AAR (NYSE:AIR) Sets New 52-Week High – Time to Buy?

Shares of AAR Corp. (NYSE:AIR) reached a new 52-week high on Thursday . The stock traded as high as $127.39 and last traded at $127.3540, with a volume of 320171 shares. The stock had previously closed at $117.36.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. KeyCorp boosted their price target on AAR from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Truist Financial upgraded AAR to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group upped their price objective on AAR to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Weiss Ratings cut AAR from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada upped their price objective on AAR from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.20.

AAR Stock Up 8.5%

The company has a fifty day simple moving average of $113.54 and a 200-day simple moving average of $104.48. The company has a quick ratio of 1.23, a current ratio of 2.70 and a debt-to-equity ratio of 0.54. The firm has a market cap of $5.06 billion, a P/E ratio of 28.24 and a beta of 1.13.

AAR (NYSE:AIR) last released its quarterly earnings results on Tuesday, March 24th. The aerospace company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. AAR had a return on equity of 12.39% and a net margin of 5.46%.The business had revenue of $845.10 million during the quarter, compared to analyst estimates of $812.58 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. AAR’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities analysts anticipate that AAR Corp. will post 4.97 earnings per share for the current year.

Insider Transactions at AAR

In other news, CEO John Mcclain Holmes III sold 26,175 shares of the company’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $107.60, for a total value of $2,816,430.00. Following the completion of the transaction, the chief executive officer owned 235,064 shares of the company’s stock, valued at $25,292,886.40. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On AAR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in AAR by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,779 shares of the aerospace company’s stock valued at $1,163,000 after buying an additional 904 shares during the last quarter. Millennium Management LLC boosted its stake in AAR by 35.8% during the first quarter. Millennium Management LLC now owns 134,966 shares of the aerospace company’s stock valued at $7,557,000 after buying an additional 35,608 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in AAR by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,384 shares of the aerospace company’s stock valued at $5,453,000 after buying an additional 4,288 shares during the last quarter. State Street Corp boosted its stake in AAR by 10.9% during the second quarter. State Street Corp now owns 1,917,821 shares of the aerospace company’s stock valued at $131,927,000 after buying an additional 188,406 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in AAR by 4.2% during the second quarter. Sei Investments Co. now owns 265,375 shares of the aerospace company’s stock valued at $18,255,000 after buying an additional 10,725 shares during the last quarter. 90.74% of the stock is owned by institutional investors.

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.