Truist Financial Cuts AAR (NYSE:AIR) Price Target to $78.00

AAR (NYSE:AIR) had its price objective reduced by analysts at Truist Financial from $81.00 to $78.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price objective suggests a potential upside of 31.44% from the stock’s current price.

AIR has been the subject of several other research reports. KeyCorp started coverage on shares of AAR in a research report on Thursday, January 16th. They set an “overweight” rating and a $83.00 price objective for the company. StockNews.com lowered AAR from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.80.

AAR Trading Down 13.2 %

AIR traded down $9.01 during trading on Friday, reaching $59.34. 739,274 shares of the company’s stock were exchanged, compared to its average volume of 276,938. The company’s fifty day moving average price is $66.95 and its 200-day moving average price is $65.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. The firm has a market capitalization of $2.13 billion, a PE ratio of 211.61 and a beta of 1.58. AAR has a fifty-two week low of $54.71 and a fifty-two week high of $76.34.

AAR (NYSE:AIR) last announced its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.03. The company had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. As a group, equities analysts forecast that AAR will post 3.77 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Jessica A. Garascia sold 1,500 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.90, for a total value of $100,350.00. Following the transaction, the chief accounting officer now directly owns 37,565 shares of the company’s stock, valued at $2,513,098.50. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Mcclain Holmes III sold 5,000 shares of AAR stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $70.81, for a total transaction of $354,050.00. Following the sale, the chief executive officer now directly owns 341,680 shares of the company’s stock, valued at $24,194,360.80. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,793 shares of company stock valued at $12,538,396 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AAR

A number of institutional investors have recently made changes to their positions in AIR. National Bank of Canada FI acquired a new position in shares of AAR during the 3rd quarter worth approximately $25,000. Putney Financial Group LLC bought a new position in AAR in the fourth quarter valued at approximately $30,000. Virtus Fund Advisers LLC bought a new stake in AAR during the fourth quarter worth $36,000. Sterling Capital Management LLC boosted its holdings in shares of AAR by 761.2% in the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock valued at $54,000 after purchasing an additional 784 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of AAR by 124.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 561 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.

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.