AAR (NYSE:AIR) Reaches New 12-Month High Following Analyst Upgrade

AAR Corp. (NYSE:AIR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday after Royal Bank Of Canada raised their price target on the stock from $75.00 to $85.00. Royal Bank Of Canada currently has an outperform rating on the stock. AAR traded as high as $76.86 and last traded at $74.65, with a volume of 1185 shares changing hands. The stock had previously closed at $74.84.

AIR has been the subject of a number of other reports. KeyCorp boosted their target price on AAR from $80.00 to $86.00 and gave the company an "overweight" rating in a research note on Thursday. Truist Financial boosted their target price on AAR from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised AAR from a "sell" rating to a "hold" rating in a research note on Saturday, April 19th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $84.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of AAR during the first quarter worth about $526,000. Vanguard Group Inc. boosted its position in shares of AAR by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company's stock worth $235,369,000 after buying an additional 58,694 shares during the period. Raymond James Financial Inc. acquired a new position in shares of AAR during the fourth quarter worth about $6,849,000. GAMMA Investing LLC boosted its position in shares of AAR by 10,454.2% during the first quarter. GAMMA Investing LLC now owns 63,325 shares of the aerospace company's stock worth $3,546,000 after buying an additional 62,725 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of AAR by 60.3% during the fourth quarter. First Trust Advisors LP now owns 26,173 shares of the aerospace company's stock worth $1,604,000 after buying an additional 9,846 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Stock Up 11.4%

The firm has a 50-day moving average price of $66.50 and a two-hundred day moving average price of $63.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.82 and a quick ratio of 1.39. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -231.95 and a beta of 1.44.

AAR (NYSE:AIR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The aerospace company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. AAR had a positive return on equity of 10.86% and a negative net margin of 0.46%. The firm had revenue of $754.50 million during the quarter, compared to analysts' expectations of $695.81 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The business's quarterly revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that AAR Corp. will post 3.77 earnings per share for the current fiscal year.

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.