AAR’s (AIR) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of AAR (NYSE:AIRFree Report) in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a $80.00 price target on the aerospace company’s stock.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus raised their price target on shares of AAR from $80.00 to $81.00 and gave the company a buy rating in a report on Friday, December 22nd. Truist Financial raised their price target on shares of AAR from $68.00 to $81.00 and gave the company a buy rating in a report on Friday, December 22nd. Finally, William Blair initiated coverage on shares of AAR in a report on Monday, January 29th. They set an outperform rating on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $76.75.

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AAR Stock Down 5.9 %

AIR stock opened at $60.12 on Friday. AAR has a 12-month low of $50.06 and a 12-month high of $73.95. The company has a quick ratio of 1.44, a current ratio of 3.14 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 35.36 and a beta of 1.68. The company has a 50 day moving average of $62.98 and a two-hundred day moving average of $62.97.

AAR (NYSE:AIRGet Free Report) last released its earnings results on Thursday, December 21st. The aerospace company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The company had revenue of $545.40 million during the quarter, compared to the consensus estimate of $557.04 million. AAR had a net margin of 2.73% and a return on equity of 10.26%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, equities analysts anticipate that AAR will post 3.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AIR. Bank of New York Mellon Corp grew its position in AAR by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 417,741 shares of the aerospace company’s stock worth $20,231,000 after purchasing an additional 19,617 shares during the last quarter. Bank of Montreal Can boosted its position in shares of AAR by 8.0% during the 1st quarter. Bank of Montreal Can now owns 18,177 shares of the aerospace company’s stock valued at $890,000 after acquiring an additional 1,345 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of AAR by 56.7% during the 1st quarter. MetLife Investment Management LLC now owns 18,230 shares of the aerospace company’s stock valued at $883,000 after acquiring an additional 6,595 shares in the last quarter. Rhumbline Advisers lifted its holdings in AAR by 4.6% during the 1st quarter. Rhumbline Advisers now owns 110,106 shares of the aerospace company’s stock valued at $5,332,000 after purchasing an additional 4,874 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in AAR by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,743 shares of the aerospace company’s stock valued at $1,392,000 after purchasing an additional 3,542 shares during the last quarter. 89.87% of the stock is currently owned by institutional investors and hedge funds.

About AAR

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AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.

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