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

Key Points

• Wall Street Zen downgraded AAR from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy” with a $135.60 price target.
• AAR reported a strong quarter, posting $1.53 in EPS versus the $1.38 estimate and $928 million in revenue, up 23% year over year and above expectations.
• AAR shares opened at $140, near their 52-week high of $146.75, while institutional investors own approximately 90.74% of the company’s stock.

AAR (NYSE:AIR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on AIR. Zacks Research upgraded AAR from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. KeyCorp restated a "sector weight" rating on shares of AAR in a research note on Wednesday, July 22nd. Jefferies Financial Group increased their price target on AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of AAR from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Finally, Truist Financial boosted their price objective on shares of AAR from $128.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, AAR presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.60.

AAR Price Performance

Shares of AIR opened at $140.00 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 2.84. AAR has a fifty-two week low of $71.43 and a fifty-two week high of $146.75. The firm has a 50-day simple moving average of $130.00 and a 200-day simple moving average of $117.66. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 28.98 and a beta of 1.09.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.15. The firm had revenue of $928.00 million for the quarter, compared to analysts' expectations of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.The firm's revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. On average, equities research analysts anticipate that AAR will post 5.92 earnings per share for the current year.

Hedge Funds Weigh In On AAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in AAR by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 4,061,230 shares of the aerospace company's stock worth $336,229,000 after purchasing an additional 281,871 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in AAR by 22.5% in the fourth quarter. First Eagle Investment Management LLC now owns 61,619 shares of the aerospace company's stock valued at $5,101,000 after purchasing an additional 11,300 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of AAR in the fourth quarter valued at $1,230,000. Wealth Enhancement Trust Services Inc. acquired a new position in shares of AAR during the 4th quarter worth $1,416,000. Finally, Principal Financial Group Inc. raised its stake in shares of AAR by 4.9% during the 1st quarter. Principal Financial Group Inc. now owns 675,686 shares of the aerospace company's stock worth $73,961,000 after buying an additional 31,583 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.