KeyCorp Issues Positive Forecast for AAR (NYSE:AIR) Stock Price

AAR (NYSE:AIR - Get Free Report) had its target price upped by equities research analysts at KeyCorp from $80.00 to $86.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the aerospace company's stock. KeyCorp's price objective would suggest a potential upside of 0.39% from the stock's current price.

Several other research analysts have also commented on AIR. Wall Street Zen raised AAR from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. Truist Financial raised their target price on shares of AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, July 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $82.00.

AAR Price Performance

Shares of NYSE AIR traded up $10.78 during midday trading on Thursday, hitting $85.66. The stock had a trading volume of 304,077 shares, compared to its average volume of 279,700. AAR has a 1 year low of $46.51 and a 1 year high of $85.00. The company has a market capitalization of $3.09 billion, a PE ratio of -236.55 and a beta of 1.44. The company has a quick ratio of 1.39, a current ratio of 2.82 and a debt-to-equity ratio of 0.86. The stock has a 50 day simple moving average of $66.50 and a 200-day simple moving average of $63.78.

AAR (NYSE:AIR - Get Free Report) last released its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 EPS for the quarter, topping 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 previous year, the firm posted $0.88 EPS. AAR's revenue for the quarter was up 15.0% on a year-over-year basis. On average, sell-side analysts expect that AAR will post 3.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sheets Smith Wealth Management raised its stake in AAR by 1.9% during the 2nd quarter. Sheets Smith Wealth Management now owns 7,416 shares of the aerospace company's stock valued at $510,000 after purchasing an additional 135 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of AAR by 6.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company's stock valued at $224,000 after acquiring an additional 226 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in 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 purchasing an additional 246 shares in the last quarter. Voya Investment Management LLC boosted its holdings in AAR by 2.6% in the first 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. Finally, Victory Capital Management Inc. boosted its holdings in AAR by 2.7% in the fourth quarter. Victory Capital Management Inc. now owns 14,847 shares of the aerospace company's stock worth $910,000 after purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds 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.

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