Analysts Set AAR Corp. (NYSE:AIR) Target Price at $83.50

AAR Corp. (NYSE:AIR) has been assigned an average recommendation of “Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $83.50.

A number of analysts have recently issued reports on AIR shares. Royal Bank of Canada increased their price target on shares of AAR from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. StockNews.com cut AAR from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Stifel Nicolaus decreased their target price on shares of AAR from $86.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, July 19th.

AAR Trading Up 2.6 %

AAR stock opened at $67.64 on Tuesday. AAR has a 52 week low of $54.71 and a 52 week high of $76.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.41 and a current ratio of 2.98. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 39.79 and a beta of 1.55. The company has a 50 day moving average price of $65.58 and a 200 day moving average price of $66.50.

AAR (NYSE:AIR) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The business had revenue of $656.50 million for the quarter, compared to the consensus estimate of $660.05 million. AAR had a return on equity of 10.16% and a net margin of 2.00%. AAR’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. Research analysts forecast that AAR will post 3.74 EPS for the current year.

Hedge Funds Weigh In On AAR

A number of institutional investors have recently made changes to their positions in AIR. Westwood Holdings Group Inc. acquired a new stake in AAR in the 2nd quarter valued at approximately $77,754,000. American Century Companies Inc. increased its position in 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 acquiring an additional 865,705 shares during the period. Boston Partners bought a new position in AAR during the first quarter worth $25,794,000. Allspring Global Investments Holdings LLC raised 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 last quarter. Finally, Norges Bank bought a new stake in AAR in the 4th quarter valued at $21,511,000. 90.74% of the stock is currently owned by institutional investors.

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.