Benchmark Increases AAR (NYSE:AIR) Price Target to $83.00

AAR (NYSE:AIR) had its price objective upped by research analysts at Benchmark from $65.00 to $83.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Benchmark’s price objective would suggest a potential upside of 35.77% from the company’s previous close.

AIR has been the topic of a number of other reports. Stifel Nicolaus lifted their price target on AAR from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. William Blair began coverage on AAR in a research note on Monday, January 29th. They set an “outperform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 target price on shares of AAR in a research note on Friday, March 22nd. Finally, Truist Financial boosted their target price on AAR from $68.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

AAR Trading Up 0.8 %

Shares of AIR opened at $61.14 on Monday. The business has a 50-day moving average of $63.35 and a 200 day moving average of $63.05. AAR has a fifty-two week low of $50.06 and a fifty-two week high of $73.95. The firm has a market cap of $2.17 billion, a P/E ratio of 35.96 and a beta of 1.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.33 and a current ratio of 2.90.

AAR (NYSE:AIR) last issued its earnings results on Thursday, March 21st. The aerospace company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. AAR had a return on equity of 10.17% and a net margin of 2.73%. As a group, research analysts forecast that AAR will post 3.3 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John Mcclain Holmes III sold 28,145 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total value of $1,631,284.20. Following the transaction, the chief executive officer now owns 303,621 shares of the company’s stock, valued at $17,597,873.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $63.37, for a total transaction of $465,896.24. Following the sale, the chief accounting officer now owns 28,165 shares of the company’s stock, valued at approximately $1,784,816.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Mcclain Holmes III sold 28,145 shares of AAR stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $57.96, for a total value of $1,631,284.20. Following the sale, the chief executive officer now directly owns 303,621 shares in the company, valued at approximately $17,597,873.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,747 shares of company stock valued at $3,858,323. Insiders own 4.30% of the company’s stock.

Institutional Trading of AAR

Large investors have recently added to or reduced their stakes in the company. New England Research & Management Inc. boosted its holdings in shares of AAR by 59.2% in the 1st quarter. New England Research & Management Inc. now owns 27,300 shares of the aerospace company’s stock worth $1,634,000 after purchasing an additional 10,150 shares during the period. Campbell Capital Management Inc. purchased a new position in shares of AAR in the 1st quarter worth approximately $1,796,000. Quadrature Capital Ltd boosted its holdings in shares of AAR by 77.3% in the 4th quarter. Quadrature Capital Ltd now owns 29,982 shares of the aerospace company’s stock worth $1,870,000 after purchasing an additional 13,075 shares during the period. Vanguard Group Inc. boosted its holdings in AAR by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,761,632 shares of the aerospace company’s stock valued at $234,726,000 after acquiring an additional 44,948 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in AAR by 21.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,556 shares of the aerospace company’s stock valued at $1,158,000 after acquiring an additional 3,286 shares during the period. Institutional investors own 90.74% of the company’s stock.

About AAR

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.