Truist Financial Forecasts Strong Price Appreciation for AAR (NYSE:AIR) Stock

Key Points

• Truist Financial raised AAR’s price target to $145 from $128 and maintained a “buy” rating, implying 7.26% potential upside from the prior close.
• AAR reported quarterly EPS of $1.53, beating the $1.38 consensus estimate, while revenue rose 23% year over year to $928 million and exceeded expectations.
• Analyst sentiment remains positive, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $135.60; institutional investors own 90.74% of the stock.

AAR (NYSE:AIR - Get Free Report) had its price objective upped by research analysts at Truist Financial from $128.00 to $145.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the aerospace company's stock. Truist Financial's target price points to a potential upside of 7.26% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. KeyCorp reissued a "sector weight" rating on shares of AAR in a report on Wednesday. Jefferies Financial Group lifted their price target on shares of AAR from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded AAR from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Zacks Research upgraded AAR from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. Finally, Wall Street Zen cut AAR from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.60.

AAR Stock Performance

AIR stock traded up $6.14 on Monday, hitting $135.19. The company had a trading volume of 40,389 shares, compared to its average volume of 483,592. The stock's 50-day simple moving average is $126.74 and its 200 day simple moving average is $116.24. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 27.99 and a beta of 1.09. The company has a current ratio of 2.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52. AAR has a 12-month low of $71.43 and a 12-month high of $146.75.

AAR (NYSE:AIR - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.15. The firm had revenue of $928.00 million for the quarter, compared to the consensus estimate of $893.03 million. AAR had a return on equity of 12.67% and a net margin of 5.67%.The company's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. As a group, equities research analysts expect that AAR will post 5.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AAR

Institutional investors and hedge funds have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. bought a new position in shares of AAR in the first quarter worth about $25,000. Optiver Holding B.V. raised its stake in AAR by 218.6% during the 1st quarter. Optiver Holding B.V. now owns 274 shares of the aerospace company's stock valued at $30,000 after purchasing an additional 188 shares during the period. McMillan Office Inc. purchased a new position in AAR in the 4th quarter worth approximately $25,000. Morse Asset Management Inc purchased a new position in AAR in the 3rd quarter worth approximately $27,000. Finally, Danske Bank A S bought a new position in AAR in the 4th quarter worth approximately $28,000. 90.74% of the stock is owned by institutional investors.

AAR Company Profile

AAR Corp. NYSE: AIR is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.

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