AAR (NYSE:AIR) Given New $80.00 Price Target at KeyCorp

AAR (NYSE:AIR) had its price target cut by analysts at KeyCorp from $83.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the aerospace company’s stock. KeyCorp’s price target suggests a potential upside of 43.69% from the stock’s current price.

Several other equities analysts also recently commented on AIR. StockNews.com downgraded AAR from a “hold” rating to a “sell” rating in a research report on Saturday. Truist Financial reduced their price target on shares of AAR from $81.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, March 28th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $80.20.

AAR Stock Performance

Shares of NYSE AIR traded up $0.31 during trading on Wednesday, hitting $55.68. The company had a trading volume of 84,306 shares, compared to its average volume of 268,312. The stock has a 50 day simple moving average of $66.06 and a 200 day simple moving average of $65.29. The firm has a market capitalization of $2.00 billion, a P/E ratio of 198.85 and a beta of 1.58. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.27 and a current ratio of 2.68. AAR has a 12 month low of $54.22 and a 12 month high of $76.34.

AAR (NYSE:AIR) last posted its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 0.41% and a return on equity of 10.46%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, analysts anticipate that AAR will post 3.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John Mcclain Holmes III sold 128,427 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $66.76, for a total transaction of $8,573,786.52. Following the transaction, the chief executive officer now directly owns 346,680 shares in the company, valued at approximately $23,144,356.80. This represents a 27.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jessica A. Garascia sold 1,500 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $66.90, for a total value of $100,350.00. Following the completion of the sale, the chief accounting officer now owns 37,565 shares in the company, valued at approximately $2,513,098.50. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,793 shares of company stock valued at $12,538,396 over the last ninety days. 4.10% of the stock is owned by insiders.

Institutional Trading of AAR

Several institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors lifted its holdings in AAR by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 3,537 shares of the aerospace company’s stock valued at $231,000 after buying an additional 177 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of AAR by 3.3% in the fourth quarter. Inspire Investing LLC now owns 6,505 shares of the aerospace company’s stock valued at $399,000 after purchasing an additional 205 shares during the period. Arizona State Retirement System boosted its holdings in shares of AAR by 2.1% in the fourth quarter. Arizona State Retirement System now owns 10,420 shares of the aerospace company’s stock valued at $639,000 after purchasing an additional 219 shares during the period. HighTower Advisors LLC grew its stake in AAR by 6.1% in the third quarter. HighTower Advisors LLC now owns 3,818 shares of the aerospace company’s stock worth $249,000 after purchasing an additional 220 shares in the last quarter. Finally, Sheets Smith Wealth Management increased its holdings in AAR by 3.2% during the 4th quarter. Sheets Smith Wealth Management now owns 7,015 shares of the aerospace company’s stock worth $430,000 after purchasing an additional 220 shares during the period. 90.74% of the stock is currently owned by 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.