AAR (NYSE:AIR) Receives 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 issued to investors on Monday, Benzinga reports. Royal Bank of Canada currently has a $75.00 target price on the aerospace company’s stock.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus cut their price target on AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, July 19th. StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Benchmark reiterated a “buy” rating and set a $83.00 target price on shares of AAR in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, AAR presently has an average rating of “Moderate Buy” and an average target price of $81.00.

AAR Trading Up 1.3 %

AAR stock opened at $59.15 on Monday. The company has a current ratio of 3.06, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The firm has a market cap of $2.12 billion, a PE ratio of 32.50 and a beta of 1.57. The stock’s 50 day simple moving average is $63.96 and its two-hundred day simple moving average is $66.77. AAR has a 12 month low of $54.71 and a 12 month high of $76.34.

AAR (NYSE:AIR) last released its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $661.70 million for the quarter, compared to analyst estimates of $645.60 million. AAR had a net margin of 2.67% and a return on equity of 10.22%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. Analysts anticipate that AAR will post 3.63 earnings per share for the current year.

Hedge Funds Weigh In On AAR

A number of hedge funds have recently made changes to their positions in AIR. Westwood Holdings Group Inc. purchased a new stake in shares of AAR during the second quarter worth approximately $77,754,000. American Century Companies Inc. grew its holdings in shares of AAR by 1,956.5% during the second quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock worth $66,154,000 after buying an additional 865,705 shares in the last quarter. Boston Partners acquired a new stake in shares of AAR in the first quarter valued at about $25,794,000. Allspring Global Investments Holdings LLC lifted its stake in shares of AAR by 32.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock worth $47,906,000 after buying an additional 181,518 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in AAR by 83.6% during the second quarter. Thrivent Financial for Lutherans now owns 297,482 shares of the aerospace company’s stock worth $21,627,000 after acquiring an additional 135,445 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Company Profile

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.