AAR (NYSE:AIR) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of AAR (NYSE:AIR) in a research note released on Monday, Marketbeat.com reports. The firm issued a neutral rating and a $121.00 price objective on the aerospace company’s stock.

Several other equities research analysts also recently commented on the stock. KeyCorp upped their price objective on shares of AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Truist Financial set a $107.00 price target on shares of AAR in a research report on Friday, January 9th. Royal Bank Of Canada raised their price objective on shares of AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Jefferies Financial Group set a $112.00 target price on AAR and gave the stock a “buy” rating in a research report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.80.

AAR Trading Down 1.2%

NYSE AIR opened at $104.16 on Monday. The business’s fifty day moving average is $89.20 and its 200-day moving average is $82.62. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.84 and a quick ratio of 1.31. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 40.85 and a beta of 1.24. AAR has a one year low of $46.51 and a one year high of $107.82.

AAR (NYSE:AIR) last posted its quarterly earnings data on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The business had revenue of $795.30 million during the quarter, compared to the consensus estimate of $760.95 million. AAR had a net margin of 3.17% and a return on equity of 12.40%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. Equities research analysts predict that AAR will post 3.77 EPS for the current year.

Insider Buying and Selling at AAR

In other news, CAO Jessica A. Garascia sold 4,787 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $95.25, for a total transaction of $455,961.75. Following the transaction, the chief accounting officer directly owned 29,557 shares of the company’s stock, valued at approximately $2,815,304.25. This trade represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher A. Jessup sold 23,621 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $97.05, for a total value of $2,292,418.05. Following the sale, the senior vice president owned 65,769 shares of the company’s stock, valued at $6,382,881.45. This represents a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 146,696 shares of company stock worth $13,477,247 over the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AAR by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock worth $1,163,000 after acquiring an additional 904 shares during the last quarter. Millennium Management LLC grew its stake in shares of AAR by 35.8% in the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after purchasing an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in AAR by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock valued at $5,453,000 after purchasing an additional 4,288 shares during the period. Public Employees Retirement System of Ohio raised its position in AAR by 7.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,584 shares of the aerospace company’s stock valued at $2,723,000 after purchasing an additional 2,804 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in AAR by 7.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 21,090 shares of the aerospace company’s stock valued at $1,449,000 after purchasing an additional 1,542 shares during the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

About AAR

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.