AAR (NYSE:AIR) Downgraded by Wall Street Zen to Hold

Key Points

• AAR's stock has been dowedwnrated by Wall Street Zen from a "buy" rating to a "hold" rating.
• Despite the downgrade, several other analysts have raised their price targets for AAR, with an average target price of $83.75.
• The company reported better-than-expected quarterly earnings, with earnings per share of $1.16 compared to an estimate of $1.00.

Wall Street Zen lowered shares of AAR (NYSE:AIR - Free Report) from a buy rating to a hold rating in a research note released on Saturday.

AIR has been the subject of several other reports. Royal Bank Of Canada boosted their price objective on shares of AAR from $75.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Truist Financial boosted their price objective on shares of AAR from $78.00 to $81.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, KeyCorp boosted their price objective on shares of AAR from $80.00 to $86.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $83.75.

AAR Price Performance

Shares of AIR stock traded up $1.34 during trading on Friday, hitting $78.24. The company had a trading volume of 61,457 shares, compared to its average volume of 313,230. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.72. The firm has a market capitalization of $2.81 billion, a P/E ratio of 236.92 and a beta of 1.50. The stock's 50-day moving average price is $75.79 and its 200 day moving average price is $66.97. AAR has a one year low of $46.51 and a one year high of $86.43.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $754.50 million during the quarter, compared to analysts' expectations of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%.The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. Equities analysts expect that AAR will post 3.77 EPS for the current fiscal year.

Insider Activity at AAR

In other news, Director Jennifer L. Vogel sold 7,000 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $78.07, for a total transaction of $546,490.00. Following the completion of the transaction, the director directly owned 22,970 shares in the company, valued at approximately $1,793,267.90. This represents a 23.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jessica A. Garascia sold 3,631 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $77.08, for a total transaction of $279,877.48. Following the transaction, the chief accounting officer owned 39,117 shares of the company's stock, valued at $3,015,138.36. This trade represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 95,182 shares of company stock valued at $7,331,452 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of AAR

Institutional investors and hedge funds have recently bought and sold shares of the stock. Osterweis Capital Management Inc. acquired a new stake in AAR in the second quarter valued at $26,000. Hughes Financial Services LLC acquired a new stake in AAR in the first quarter valued at $28,000. Putney Financial Group LLC acquired a new stake in AAR in the fourth quarter valued at $30,000. Virtus Advisers LLC acquired a new stake in AAR in the first quarter valued at $47,000. Finally, GAMMA Investing LLC increased its holdings in AAR by 88.5% in the first quarter. GAMMA Investing LLC now owns 1,131 shares of the aerospace company's stock valued at $63,000 after purchasing an additional 531 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.

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.