AAR (AIR) Raised to “Buy” at Canaccord Genuity

AAR (NYSE:AIR) was upgraded by equities researchers at Canaccord Genuity from a “hold” rating to a “buy” rating in a report issued on Thursday, MarketBeat reports. The brokerage currently has a $46.00 price objective on the aerospace company’s stock, up from their prior price objective of $42.00. Canaccord Genuity’s target price would suggest a potential upside of 17.77% from the company’s previous close.

Several other brokerages have also recently commented on AIR. Seaport Global Securities upgraded AAR from a “neutral” rating to a “buy” rating and upped their target price for the company from $39.00 to $50.00 in a report on Tuesday, January 16th. SunTrust Banks upped their target price on AAR to $50.00 and gave the company a “buy” rating in a report on Monday, December 4th. Noble Financial reiterated a “buy” rating on shares of AAR in a report on Friday, December 22nd. TheStreet cut AAR from a “b” rating to a “c+” rating in a report on Thursday, December 21st. Finally, Credit Suisse Group upgraded AAR from a “neutral” rating to an “outperform” rating in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $46.50.

Shares of AAR (NYSE AIR) traded up $0.52 during mid-day trading on Thursday, reaching $39.06. The company had a trading volume of 481,206 shares, compared to its average volume of 283,142. AAR has a 1-year low of $31.97 and a 1-year high of $44.04. The company has a market capitalization of $1,356.51, a PE ratio of 58.30 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.65 and a quick ratio of 1.23.

AAR (NYSE:AIR) last announced its earnings results on Thursday, December 21st. The aerospace company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). AAR had a net margin of 1.25% and a return on equity of 5.61%. The company had revenue of $449.70 million during the quarter, compared to the consensus estimate of $450.56 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. sell-side analysts predict that AAR will post 1.86 earnings per share for the current year.

In other AAR news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $33.47, for a total transaction of $100,410.00. Following the transaction, the director now directly owns 23,406 shares in the company, valued at approximately $783,398.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David P. Storch sold 126,679 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $41.53, for a total value of $5,260,978.87. Following the completion of the transaction, the chief executive officer now owns 759,639 shares in the company, valued at $31,547,807.67. The disclosure for this sale can be found here. 9.33% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of AIR. Macquarie Group Ltd. bought a new position in shares of AAR in the 3rd quarter worth $144,000. Highbridge Capital Management LLC bought a new position in shares of AAR in the 3rd quarter worth $200,000. Cubist Systematic Strategies LLC bought a new position in shares of AAR in the 2nd quarter worth $213,000. OxFORD Asset Management LLP bought a new position in shares of AAR in the 2nd quarter worth $230,000. Finally, Group One Trading L.P. bought a new position in shares of AAR in the 3rd quarter worth $233,000. Institutional investors own 90.34% of the company’s stock.

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AAR 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.

Analyst Recommendations for AAR (NYSE:AIR)

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