AAR (NYSE:AIR) Reaches New 52-Week High – Should You Buy?

AAR Corp. (NYSE:AIR)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $89.70 and last traded at $88.7320, with a volume of 607599 shares. The stock had previously closed at $88.02.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIR. Truist Financial raised their target price on AAR from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. KeyCorp increased their price target on AAR from $86.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Zacks Research downgraded AAR from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Jefferies Financial Group initiated coverage on AAR in a research report on Wednesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Royal Bank Of Canada raised their price target on shares of AAR from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

AAR Price Performance

The company has a market capitalization of $3.47 billion, a P/E ratio of 113.67 and a beta of 1.24. The company has a quick ratio of 1.31, a current ratio of 2.91 and a debt-to-equity ratio of 0.82. The business has a 50 day simple moving average of $82.81 and a 200-day simple moving average of $78.99.

AAR (NYSE:AIR) last announced its quarterly earnings results on Wednesday, May 28th. The aerospace company reported $0.83 EPS for the quarter. The company had revenue of $553.30 million for the quarter. AAR had a net margin of 1.01% and a return on equity of 12.29%. Analysts predict that AAR Corp. will post 3.77 EPS for the current fiscal year.

Insider Buying and Selling at AAR

In other news, CEO John Mcclain Holmes III sold 38,462 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $83.50, for a total transaction of $3,211,577.00. Following the sale, the chief executive officer directly owned 260,141 shares of the company’s stock, valued at $21,721,773.50. The trade was a 12.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AAR

A number of institutional investors have recently bought and sold shares of the stock. State of Wyoming boosted its stake in AAR by 128.5% in the 1st quarter. State of Wyoming now owns 1,821 shares of the aerospace company’s stock worth $102,000 after purchasing an additional 1,024 shares during the period. Royal Bank of Canada grew its holdings in shares of AAR by 7.9% during the first quarter. Royal Bank of Canada now owns 518,061 shares of the aerospace company’s stock valued at $29,007,000 after buying an additional 37,723 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 in the last quarter. Millennium Management LLC lifted its stake in AAR by 35.8% in the 1st quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock worth $7,557,000 after acquiring an additional 35,608 shares in the last quarter. Finally, Petrus Trust Company LTA acquired a new stake in AAR during the 1st quarter worth about $225,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

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.