AAR (NYSE:AIR) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of AAR (NYSE:AIR) in a research note published on Tuesday, Benzinga reports. They currently have a $85.00 price target on the aerospace company’s stock.

AIR has been the topic of a number of other research reports. Stifel Nicolaus reduced their target price on AAR from $86.00 to $85.00 and set a buy rating on the stock in a report on Friday, July 19th. StockNews.com cut AAR from a hold rating to a sell rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $83.50.

AAR Stock Up 0.2 %

AIR stock opened at $63.80 on Tuesday. The company has a market capitalization of $2.26 billion, a P/E ratio of 37.53 and a beta of 1.55. The firm has a 50 day simple moving average of $64.46 and a 200-day simple moving average of $66.59. The company has a current ratio of 2.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.83. AAR has a twelve month low of $54.71 and a twelve month high of $76.34.

AAR (NYSE:AIR) last released its earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. AAR had a net margin of 2.67% and a return on equity of 10.31%. The company had revenue of $661.70 million during the quarter, compared to the consensus estimate of $645.60 million. During the same quarter in the previous year, the firm earned $0.78 EPS. The company’s revenue was up 20.4% on a year-over-year basis. On average, equities research analysts predict that AAR will post 3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. bought a new stake in AAR in the second quarter valued at $77,754,000. American Century Companies Inc. increased its holdings in shares of AAR by 1,956.5% in the 2nd quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock worth $66,154,000 after acquiring an additional 865,705 shares during the period. Boston Partners bought a new stake in AAR in the 1st quarter valued at about $25,794,000. Allspring Global Investments Holdings LLC boosted its stake in AAR by 889.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 391,076 shares of the aerospace company’s stock valued at $23,414,000 after purchasing an additional 351,540 shares during the period. Finally, Norges Bank bought a new position in AAR in the 4th quarter worth about $21,511,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

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.