AAR (NYSE:AIR) Given New $86.00 Price Target at KeyCorp

AAR (NYSE:AIR - Free Report) had its target price hoisted by KeyCorp from $80.00 to $86.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the aerospace company's stock.

AIR has been the subject of several other reports. Wall Street Zen upgraded shares of AAR from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. Truist Financial increased their price target on shares of AAR from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $83.75.

AAR Stock Performance

Shares of NYSE:AIR traded down $1.42 on Thursday, reaching $83.68. 914,795 shares of the company's stock were exchanged, compared to its average volume of 285,543. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 253.58 and a beta of 1.44. AAR has a fifty-two week low of $46.51 and a fifty-two week high of $86.43. The business's 50-day moving average is $67.49 and its two-hundred day moving average is $64.14. The company has a quick ratio of 1.26, a current ratio of 2.72 and a debt-to-equity ratio of 0.80.

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

Institutional Investors Weigh In On AAR

Several hedge funds and other institutional investors have recently modified their holdings of AIR. Harbor Capital Advisors Inc. acquired a new stake in AAR during the first quarter worth $526,000. Vanguard Group Inc. boosted its stake in 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of AAR during the fourth quarter valued at $6,849,000. GAMMA Investing LLC lifted its holdings 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 valued at $3,546,000 after acquiring an additional 62,725 shares during the period. Finally, First Trust Advisors LP lifted its holdings 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 valued at $1,604,000 after acquiring an additional 9,846 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

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.