AAR’s (AIR) “Buy” Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of AAR (NYSE:AIR) in a research note published on Tuesday morning, Benzinga reports. They currently have a $83.00 target price on the aerospace company’s stock.

Several other brokerages have also recently issued reports on AIR. StockNews.com cut AAR from a hold rating to a sell rating in a research note on Wednesday, September 11th. Royal Bank of Canada reiterated an outperform rating and issued a $85.00 price objective on shares of AAR in a research note on Tuesday. Finally, 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 note on Friday, July 19th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $83.50.

AAR Stock Performance

NYSE AIR opened at $63.80 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41. The company has a market cap of $2.26 billion, a P/E ratio of 37.53 and a beta of 1.55. The stock has a 50-day moving average of $64.46 and a two-hundred day moving average of $66.59. AAR has a 1-year low of $54.71 and a 1-year high of $76.34.

AAR (NYSE:AIR) last announced its quarterly earnings data on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $661.70 million during the quarter, compared to analysts’ expectations of $645.60 million. AAR had a net margin of 2.67% and a return on equity of 10.31%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, analysts anticipate that AAR will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Westwood Holdings Group Inc. purchased a new position in shares of AAR in the 2nd quarter valued at $77,754,000. American Century Companies Inc. grew its holdings in shares of AAR by 1,956.5% during the second quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock worth $66,154,000 after purchasing an additional 865,705 shares during the last quarter. Boston Partners acquired a new stake in shares of AAR during the first quarter worth about $25,794,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of AAR by 889.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 391,076 shares of the aerospace company’s stock valued at $23,414,000 after purchasing an additional 351,540 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of AAR in the 4th quarter valued at about $21,511,000. Hedge funds and other 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.