AAR Corp. Upgraded to Neutral at Credit Suisse (AIR)
AAR Corp. (NYSE:AIR) was upgraded by equities researchers at Credit Suisse from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $29.00 price target on the stock, up from their previous price target of $26.00. Credit Suisse’s target price would indicate a potential upside of 1.26% from the company’s current price.
A number of other firms have also recently commented on AIR. Analysts at Davidson raised their price target on shares of AAR Corp. from $33.00 to $36.00 in a research note to investors on Friday, December 20th. Analysts at KeyCorp initiated coverage on shares of AAR Corp. in a research note to investors on Tuesday, November 26th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.50.
AAR Corp. (NYSE:AIR) traded up 3.77% on Tuesday, hitting $28.64. 1,039,205 shares of the company’s stock traded hands. AAR Corp. has a 1-year low of $16.02 and a 1-year high of $31.55. The stock has a 50-day moving average of $28.63 and a 200-day moving average of $27.48. The company has a market cap of $1.105 billion and a P/E ratio of 19.27.
AAR Corp. (NYSE:AIR) last announced its earnings results on Thursday, December 19th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $540.70 million for the quarter, compared to the consensus estimate of $536.14 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that AAR Corp. will post $1.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Stockholders of record on Tuesday, January 28th will be given a dividend of 0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, January 24th.
AAR CORP. (NYSE:AIR) is a diversified provider of products and services to the worldwide aviation and government and defense markets.
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