Royal Bank Of Canada Raises AAR (NYSE:AIR) Price Target to $85.00

AAR (NYSE:AIR - Free Report) had its price target increased by Royal Bank Of Canada from $75.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the aerospace company's stock.

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

AAR Price Performance

AIR traded down $1.42 on Thursday, hitting $83.68. 914,795 shares of the company's stock were exchanged, compared to its average volume of 289,114. The firm has a 50-day moving average price of $67.01 and a 200-day moving average price of $63.95. The company has a current ratio of 2.82, a quick ratio of 1.39 and a debt-to-equity ratio of 0.86. The stock has a market cap 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.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $754.50 million for the quarter, compared to analysts' expectations of $695.81 million. AAR had a net margin of 0.45% and a return on equity of 11.71%. The company's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, equities analysts anticipate that AAR will post 3.77 earnings per share for the current year.

Institutional Trading of AAR

Several institutional investors and hedge funds have recently bought and sold shares of AIR. Putney Financial Group LLC purchased a new stake in AAR during the fourth quarter worth about $30,000. Hughes Financial Services LLC purchased a new stake in AAR during the first quarter worth about $28,000. Virtus Fund Advisers LLC purchased a new stake in AAR during the fourth quarter worth about $36,000. Virtus Advisers LLC purchased a new stake in AAR during the first quarter worth about $47,000. Finally, Sterling Capital Management LLC increased its stake in AAR by 761.2% during the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company's stock worth $54,000 after purchasing an additional 784 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

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.