AAR’s (AIR) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of AAR (NYSE:AIR) in a research report released on Friday morning, Benzinga reports. The firm currently has a $83.00 target price on the aerospace company’s stock.

Several other brokerages have also recently issued reports on AIR. Stifel Nicolaus decreased their target price on shares of AAR from $86.00 to $85.00 and set a buy rating for the company in a report on Friday, July 19th. StockNews.com downgraded AAR from a hold rating to a sell rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $85.00 price target on shares of AAR in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $83.50.

AAR Stock Performance

NYSE AIR opened at $64.27 on Friday. AAR has a 1 year low of $54.71 and a 1 year high of $76.34. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 37.81 and a beta of 1.55. The company has a fifty day moving average price of $64.31 and a 200-day moving average price of $66.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41.

AAR (NYSE:AIR) last announced its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $661.70 million for the quarter, compared to analysts’ expectations of $645.60 million. AAR had a net margin of 2.67% and a return on equity of 10.31%. AAR’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. As a group, equities research analysts predict that AAR will post 3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On AAR

A number of large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its position in AAR by 283.1% during the first quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 402 shares during the period. Quest Partners LLC purchased a new position in AAR in the 2nd quarter valued at $33,000. Innealta Capital LLC purchased a new stake in AAR during the 2nd quarter valued at about $49,000. Geneos Wealth Management Inc. acquired a new stake in AAR in the 1st quarter valued at about $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of AAR by 348.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock valued at $103,000 after purchasing an additional 1,100 shares during the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

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.