Royal Bank Of Canada Forecasts Strong Price Appreciation for AAR (NYSE:AIR) Stock

AAR (NYSE:AIR - Free Report) had its price target raised by Royal Bank Of Canada from $75.00 to $85.00 in a report released on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the aerospace company's stock.

AIR has been the subject of a number of other reports. Truist Financial raised their price target on AAR from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, July 11th. KeyCorp lifted their price objective on AAR from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Wall Street Zen upgraded AAR from a "sell" rating to a "hold" rating in a research note on Saturday, April 19th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $83.75.

AAR Price Performance

AIR stock traded down $1.42 during trading on Thursday, hitting $83.68. The company had a trading volume of 914,795 shares, compared to its average volume of 285,543. The company has a fifty day moving average price of $67.49 and a two-hundred day moving average price of $64.14. The company has a current ratio of 2.72, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. The company has a market cap of $3.02 billion, a P/E 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 issued its quarterly earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $754.50 million for the quarter, compared to analyst estimates of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Equities research analysts expect that AAR will post 3.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions 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 worth $510,000 after buying an additional 135 shares during the period. Summit Investment Advisors Inc. grew its holdings in AAR by 6.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,655 shares of the aerospace company's stock valued at $224,000 after purchasing an additional 226 shares during the period. Tower Research Capital LLC TRC grew its holdings in AAR by 11.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the aerospace company's stock valued at $143,000 after purchasing an additional 246 shares during the period. Voya Investment Management LLC lifted its position in shares of AAR by 2.6% during the first quarter. Voya Investment Management LLC now owns 12,528 shares of the aerospace company's stock worth $701,000 after acquiring an additional 320 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of AAR by 2.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,847 shares of the aerospace company's stock worth $910,000 after acquiring an additional 390 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

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.