Truist Financial Cuts AAR (NYSE:AIR) Price Target to $78.00

AAR (NYSE:AIR) had its price target trimmed by Truist Financial from $81.00 to $78.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a buy rating on the aerospace company’s stock.

Several other brokerages also recently weighed in on AIR. StockNews.com downgraded shares of AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. KeyCorp started coverage on AAR in a report on Thursday, January 16th. They set an “overweight” rating and a $83.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.80.

AAR Price Performance

Shares of NYSE:AIR opened at $57.14 on Friday. The business’s 50 day simple moving average is $66.69 and its 200-day simple moving average is $65.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 204.08 and a beta of 1.58. AAR has a 12 month low of $54.71 and a 12 month high of $76.34.

AAR (NYSE:AIR) last announced its earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. AAR had a net margin of 0.41% and a return on equity of 10.46%. The company had revenue of $678.20 million during the quarter, compared to analysts’ expectations of $699.13 million. During the same quarter in the previous year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts forecast that AAR will post 3.77 earnings per share for the current fiscal year.

Insider Transactions at AAR

In other news, CAO Jessica A. Garascia sold 1,500 shares of AAR stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $66.90, for a total transaction of $100,350.00. Following the sale, the chief accounting officer now directly owns 37,565 shares of the company’s stock, valued at approximately $2,513,098.50. The trade was a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Mcclain Holmes III sold 5,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $70.81, for a total value of $354,050.00. Following the transaction, the chief executive officer now owns 341,680 shares of the company’s stock, valued at approximately $24,194,360.80. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,793 shares of company stock valued at $12,538,396 over the last quarter. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On AAR

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of AAR by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company’s stock worth $235,369,000 after acquiring an additional 58,694 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in AAR by 8.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,441,154 shares of the aerospace company’s stock worth $88,314,000 after purchasing an additional 115,476 shares during the last quarter. Invesco Ltd. boosted its holdings in AAR by 13.5% in the fourth quarter. Invesco Ltd. now owns 1,070,618 shares of the aerospace company’s stock worth $65,607,000 after purchasing an additional 127,148 shares during the period. Franklin Resources Inc. increased its stake in AAR by 13.4% during the third quarter. Franklin Resources Inc. now owns 969,741 shares of the aerospace company’s stock valued at $59,591,000 after purchasing an additional 114,460 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of AAR by 2.4% during the fourth quarter. American Century Companies Inc. now owns 893,822 shares of the aerospace company’s stock worth $54,773,000 after purchasing an additional 20,794 shares during the period. 90.74% of the stock is currently 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.