AAR (NYSE:AIR) Hits New 12-Month High – Should You Buy?

AAR Corp. (NYSE:AIR)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $143.46 and last traded at $141.65, with a volume of 678815 shares trading hands. The stock had previously closed at $143.14.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AIR shares. Truist Financial upgraded AAR to a “strong-buy” rating in a research report on Friday, May 1st. KeyCorp boosted their price objective on AAR from $120.00 to $132.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Royal Bank Of Canada upped their price objective on AAR from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Wall Street Zen lowered AAR from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Finally, Weiss Ratings upgraded AAR from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.20.

AAR Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.23 and a current ratio of 2.70. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 31.41 and a beta of 1.13. The business’s 50 day simple moving average is $117.93 and its 200-day simple moving average is $109.27.

Hedge Funds Weigh In On AAR

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $1,163,000 after acquiring an additional 904 shares during the period. Millennium Management LLC raised its stake in AAR by 35.8% during the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $7,557,000 after acquiring an additional 35,608 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 worth $5,453,000 after acquiring an additional 4,288 shares during the period. State Street Corp boosted its position in AAR by 10.9% during the 2nd quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock worth $131,927,000 after acquiring an additional 188,406 shares during the period. Finally, Sei Investments Co. grew its stake in shares of AAR by 4.2% in the second quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock worth $18,255,000 after purchasing an additional 10,725 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Company Profile

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.