AAR Corp. (NYSE:AIR) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $38.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.11% from the stock’s previous close.

According to Zacks, “AAR Corp. is the largest independent maintenance, repair and overhaul (MRO) provider in North America. Moving ahead, rising air traffic is expected to accelerate maintenance spending on aircraft significantly and drive the MRO services growth cycle. Its share price has outperformed the Zacks categorized Aerospace/Defense Equipment industry price over the last one year. The company is gradually lowering its debts and expects an increase in cash flow on the back of its strong fundamentals. However, the company operates in a highly competitive space and is subject to stringent government regulations.”

Separately, Noble Financial started coverage on shares of AAR Corp. in a research note on Monday, April 3rd. They set a “buy” rating and a $40.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $46.60.

AAR Corp. (NYSE:AIR) traded down 1.37% during midday trading on Tuesday, hitting $33.73. 73,167 shares of the stock were exchanged. AAR Corp. has a one year low of $21.78 and a one year high of $38.75. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 24.64 and a beta of 1.53. The company has a 50 day moving average price of $34.61 and a 200 day moving average price of $34.44.

AAR Corp. (NYSE:AIR) last released its quarterly earnings data on Tuesday, March 21st. The aerospace company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. AAR Corp. had a net margin of 2.27% and a return on equity of 4.88%. The business had revenue of $446.70 million for the quarter, compared to analyst estimates of $421.60 million. During the same quarter last year, the firm earned $0.26 EPS. AAR Corp.’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that AAR Corp. will post $1.46 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Monday, May 1st were issued a dividend of $0.075 per share. The ex-dividend date was Thursday, April 27th. This represents a $0.30 annualized dividend and a yield of 0.88%. AAR Corp.’s dividend payout ratio (DPR) is currently 26.79%.

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In other AAR Corp. news, VP John Mcclain Holmes III sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $34.10, for a total transaction of $170,500.00. Following the sale, the vice president now directly owns 129,030 shares in the company, valued at approximately $4,399,923. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony Anderson sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $35.21, for a total transaction of $123,235.00. The disclosure for this sale can be found here. Company insiders own 8.23% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AIR. BlackRock Inc. increased its stake in shares of AAR Corp. by 29,054.7% in the first quarter. BlackRock Inc. now owns 4,657,468 shares of the aerospace company’s stock valued at $156,630,000 after buying an additional 4,641,493 shares during the period. Vanguard Group Inc. increased its stake in shares of AAR Corp. by 5.7% in the first quarter. Vanguard Group Inc. now owns 2,924,503 shares of the aerospace company’s stock valued at $98,350,000 after buying an additional 157,388 shares during the period. Deprince Race & Zollo Inc. increased its stake in shares of AAR Corp. by 36.3% in the third quarter. Deprince Race & Zollo Inc. now owns 1,366,194 shares of the aerospace company’s stock valued at $42,789,000 after buying an additional 364,032 shares during the period. Northern Trust Corp increased its stake in shares of AAR Corp. by 1.6% in the third quarter. Northern Trust Corp now owns 1,209,370 shares of the aerospace company’s stock valued at $37,878,000 after buying an additional 19,232 shares during the period. Finally, State Street Corp increased its stake in shares of AAR Corp. by 3.6% in the first quarter. State Street Corp now owns 1,101,708 shares of the aerospace company’s stock valued at $37,049,000 after buying an additional 37,935 shares during the period. Hedge funds and other institutional investors own 87.39% of the company’s stock.

AAR Corp. Company Profile

AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.

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