Royal Bank of Canada Reiterates Outperform Rating for AAR (NYSE:AIR)

AAR (NYSE:AIR)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a report issued on Monday, Benzinga reports. They currently have a $75.00 target price on the aerospace company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 27.44% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. StockNews.com raised shares of AAR from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Stifel Nicolaus cut their target price on shares of AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Finally, Benchmark restated a “buy” rating and set a $83.00 price objective on shares of AAR in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

AAR Price Performance

Shares of AAR stock traded up $0.45 during trading on Monday, reaching $58.85. 13,652 shares of the stock traded hands, compared to its average volume of 305,535. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 32.29 and a beta of 1.57. The business has a fifty day simple moving average of $64.07 and a two-hundred day simple moving average of $66.79. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.06 and a quick ratio of 1.45. AAR has a 52-week low of $54.71 and a 52-week high of $76.34.

AAR (NYSE:AIR) last posted its earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. AAR had a net margin of 2.67% and a return on equity of 10.22%. The firm had revenue of $661.70 million for the quarter, compared to the consensus estimate of $645.60 million. During the same period in the previous year, the firm posted $0.78 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. Sell-side analysts expect that AAR will post 3.63 EPS for the current year.

Institutional Investors Weigh In On AAR

Large investors have recently made changes to their positions in the stock. Westwood Holdings Group Inc. purchased a new position in shares of AAR during the second quarter worth $77,754,000. American Century Companies Inc. grew its position in shares of AAR by 1,956.5% in the second quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock valued at $66,154,000 after purchasing an additional 865,705 shares during the period. Boston Partners purchased a new stake in AAR during the 1st quarter worth approximately $25,794,000. Allspring Global Investments Holdings LLC increased its position in shares of AAR by 32.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock worth $47,906,000 after purchasing an additional 181,518 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of AAR by 83.6% in the second quarter. Thrivent Financial for Lutherans now owns 297,482 shares of the aerospace company’s stock valued at $21,627,000 after buying an additional 135,445 shares during the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.