AAR (NYSE:AIR) Raised to Buy at Wall Street Zen

Key Points

• AAR Corp (NYSE:AIR) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting a positive outlook for the company.
• The average target price for AAR's shares has increased to $83.75, supported by numerous analysts raising their forecasts.
• In its latest earnings report, AAR reported a 15% year-over-year revenue growth, surpassing analysts' estimates with earnings of $1.16 per share.

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

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada increased their target price on shares of AAR from $75.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. KeyCorp increased their price objective on AAR from $80.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Truist Financial lifted their price target on shares of AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, AAR presently has an average rating of "Buy" and a consensus price target of $83.75.

AAR Trading Down 0.0%

Shares of NYSE:AIR traded down $0.02 during midday trading on Friday, hitting $72.38. The company had a trading volume of 62,044 shares, compared to its average volume of 304,699. AAR has a 12 month low of $46.51 and a 12 month high of $86.43. The firm has a fifty day simple moving average of $71.07 and a 200 day simple moving average of $64.93. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 219.28 and a beta of 1.53. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80.

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

Insider Transactions at AAR

In other AAR news, CAO Jessica A. Garascia sold 3,631 shares of AAR stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $77.08, for a total transaction of $279,877.48. Following the transaction, the chief accounting officer directly owned 39,117 shares of the company's stock, valued at approximately $3,015,138.36. This trade represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Mcclain Holmes III sold 31,551 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $78.03, for a total value of $2,461,924.53. Following the sale, the chief executive officer directly owned 360,921 shares of the company's stock, valued at approximately $28,162,665.63. This trade represents a 8.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,182 shares of company stock worth $6,614,452. Company insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sheets Smith Wealth Management grew its stake in shares of AAR by 1.9% in the 2nd quarter. Sheets Smith Wealth Management now owns 7,416 shares of the aerospace company's stock worth $510,000 after buying an additional 135 shares during the last quarter. Summit Investment Advisors Inc. grew its position in AAR by 6.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company's stock worth $224,000 after purchasing an additional 226 shares during the period. Teacher Retirement System of Texas increased its position in AAR by 4.4% during the second quarter. Teacher Retirement System of Texas now owns 5,482 shares of the aerospace company's stock valued at $377,000 after acquiring an additional 231 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of AAR by 11.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company's stock worth $143,000 after buying an additional 246 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of AAR by 2.6% in the 1st quarter. Voya Investment Management LLC now owns 12,528 shares of the aerospace company's stock worth $701,000 after purchasing an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 90.74% of the company's stock.

About AAR

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.