AAR (NYSE:AIR) Reaches New 52-Week High After Analyst Upgrade

AAR Corp. (NYSE:AIR - Get Free Report)'s share price reached a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $78.00 to $81.00. Truist Financial currently has a buy rating on the stock. AAR traded as high as $76.86 and last traded at $74.65, with a volume of 1185 shares. The stock had previously closed at $74.84.

Several other equities research analysts have also commented on AIR. Wall Street Zen upgraded AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. KeyCorp dropped their price target on AAR from $83.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, AAR has an average rating of "Moderate Buy" and a consensus target price of $80.80.

Hedge Funds Weigh In On AAR

A number of institutional investors and hedge funds have recently made changes to their positions in AIR. Harbor Capital Advisors Inc. bought a new position in AAR in the first quarter worth approximately $526,000. Charles Schwab Investment Management Inc. raised its position in shares of AAR by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock worth $32,976,000 after purchasing an additional 19,863 shares during the period. Vanguard Group Inc. lifted its holdings in shares of AAR by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company's stock worth $235,369,000 after purchasing an additional 58,694 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in AAR in the 4th quarter valued at $6,849,000. Finally, GAMMA Investing LLC increased its stake in AAR by 10,454.2% during the 1st quarter. GAMMA Investing LLC now owns 63,325 shares of the aerospace company's stock valued at $3,546,000 after purchasing an additional 62,725 shares in the last quarter. Institutional investors own 90.74% of the company's stock.

AAR Stock Performance

The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -207.33 and a beta of 1.44. The company's fifty day simple moving average is $65.54 and its two-hundred day simple moving average is $63.54. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.82 and a quick ratio of 1.39.

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.