AAR (NYSE:AIR) Price Target Cut to $78.00 by Analysts at Truist Financial

AAR (NYSE:AIR) had its price objective lowered by investment analysts at Truist Financial from $81.00 to $78.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s price target points to a potential upside of 31.44% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. StockNews.com lowered shares of AAR from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. KeyCorp assumed coverage on shares of AAR in a research report on Thursday, January 16th. They set an “overweight” rating and a $83.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AAR presently has an average rating of “Moderate Buy” and an average target price of $80.80.

AAR Trading Down 13.2 %

NYSE:AIR traded down $9.01 during mid-day trading on Friday, hitting $59.34. 739,274 shares of the company’s stock were exchanged, compared to its average volume of 276,938. AAR has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $2.13 billion, a P/E ratio of 211.61 and a beta of 1.58. The company has a 50 day simple moving average of $66.95 and a 200-day simple moving average of $65.49.

AAR (NYSE:AIR) last announced its earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. The business had revenue of $678.20 million during the quarter, compared to analyst estimates of $699.13 million. AAR had a return on equity of 10.46% and a net margin of 0.41%. AAR’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. As a group, research analysts expect that AAR will post 3.77 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Christopher A. Jessup sold 33,481 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $70.40, for a total value of $2,357,062.40. Following the completion of the sale, the senior vice president now directly owns 63,209 shares of the company’s stock, valued at $4,449,913.60. This represents a 34.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Mcclain Holmes III sold 5,000 shares of AAR stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $70.81, for a total value of $354,050.00. Following the transaction, the chief executive officer now directly owns 341,680 shares in the company, valued at approximately $24,194,360.80. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,793 shares of company stock valued at $12,538,396. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On AAR

Hedge funds have recently bought and sold shares of the company. National Bank of Canada FI bought a new stake in AAR in the 3rd quarter worth about $25,000. Putney Financial Group LLC bought a new stake in AAR during the fourth quarter worth $30,000. Virtus Fund Advisers LLC purchased a new position in AAR in the fourth quarter worth $36,000. Sterling Capital Management LLC grew its stake in AAR by 761.2% in the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock valued at $54,000 after purchasing an additional 784 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of AAR by 124.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 561 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.

AAR Company Profile

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Parts Supply segment leases and sells aircraft components and replacement parts. The Repair & Engineering segment provides airframe maintenance services, such as airframe inspection, painting, line maintenance, airframe modification, structural repair, avionics service and installation, exterior and interior refurbishment, and engineering and support services; component repair services comprising maintenance, repair, and overhaul (MRO) services, engine and airframe accessories, and interior refurbishment; and landing gear overhaul services, including repair services on wheels and brakes.