Royal Bank of Canada Increases AAR (NYSE:AIR) Price Target to $85.00

AAR (NYSE:AIR) had its price objective upped by equities researchers at Royal Bank of Canada from $80.00 to $85.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 28.98% from the stock’s current price.

Several other research analysts also recently commented on AIR. Benchmark lifted their price target on shares of AAR from $65.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Stifel Nicolaus lowered their price target on shares of AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, AAR has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

AAR Stock Performance

NYSE AIR traded down $7.39 during trading on Friday, hitting $65.90. 483,680 shares of the company’s stock traded hands, compared to its average volume of 308,091. The business has a 50 day moving average of $70.90 and a 200-day moving average of $65.84. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 38.62 and a beta of 1.54. AAR has a 12-month low of $55.00 and a 12-month high of $76.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.33 and a current ratio of 2.90.

AAR (NYSE:AIR) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $656.50 million during the quarter, compared to analyst estimates of $660.05 million. AAR had a net margin of 2.73% and a return on equity of 10.17%. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. As a group, equities research analysts anticipate that AAR will post 3.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Eric Pachapa sold 5,121 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $70.96, for a total transaction of $363,386.16. Following the completion of the transaction, the chief accounting officer now directly owns 25,015 shares of the company’s stock, valued at $1,775,064.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AAR news, SVP Christopher A. Jessup sold 15,929 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $70.09, for a total value of $1,116,463.61. Following the transaction, the senior vice president now directly owns 51,803 shares in the company, valued at $3,630,872.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Eric Pachapa sold 5,121 shares of AAR stock in a transaction on Monday, May 6th. The stock was sold at an average price of $70.96, for a total transaction of $363,386.16. Following the transaction, the chief accounting officer now owns 25,015 shares in the company, valued at approximately $1,775,064.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,023 shares of company stock valued at $2,528,708. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On AAR

A number of institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC bought a new position in shares of AAR during the 2nd quarter valued at approximately $323,000. SG Americas Securities LLC raised its position in shares of AAR by 101.0% during the 2nd quarter. SG Americas Securities LLC now owns 12,453 shares of the aerospace company’s stock valued at $905,000 after purchasing an additional 6,256 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of AAR by 283.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after buying an additional 402 shares in the last quarter. Boston Partners purchased a new stake in AAR in the 1st quarter worth $25,794,000. Finally, Janus Henderson Group PLC lifted its position in shares of AAR by 13.8% in the first quarter. Janus Henderson Group PLC now owns 530,682 shares of the aerospace company’s stock valued at $31,772,000 after acquiring an additional 64,274 shares in the last quarter. 90.74% of the stock is owned by institutional investors.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.