AAR (AIR) Sets New 1-Year High on Analyst Upgrade
Shares of AAR Corp. (NYSE:AIR) reached a new 52-week high during trading on Monday after SunTrust Banks raised their price target on the stock to $50.00. SunTrust Banks currently has a buy rating on the stock. AAR traded as high as $42.11 and last traded at $41.16, with a volume of 196000 shares changing hands. The stock had previously closed at $41.58.
Other analysts also recently issued research reports about the stock. Noble Financial reiterated a “buy” rating on shares of AAR in a research report on Friday, August 11th. Canaccord Genuity started coverage on shares of AAR in a research report on Wednesday, September 6th. They issued a “hold” rating and a $40.00 price target for the company. Zacks Investment Research upgraded shares of AAR from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, Seaport Global Securities started coverage on shares of AAR in a research report on Tuesday, September 12th. They issued a “neutral” rating and a $39.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $42.25.
In other AAR news, Director Ronald R. Fogleman sold 3,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $33.47, for a total value of $100,410.00. Following the transaction, the director now directly owns 23,406 shares of the company’s stock, valued at approximately $783,398.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.33% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Group One Trading L.P. acquired a new position in AAR in the 3rd quarter valued at $233,000. Highbridge Capital Management LLC acquired a new position in AAR in the 3rd quarter valued at $200,000. PEAK6 Investments L.P. acquired a new position in AAR in the 3rd quarter valued at $823,000. Magnetar Financial LLC acquired a new position in AAR in the 3rd quarter valued at $449,000. Finally, Allianz Asset Management GmbH increased its stake in AAR by 6.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 98,235 shares of the aerospace company’s stock valued at $3,711,000 after buying an additional 5,881 shares during the period. 87.90% of the stock is currently owned by institutional investors.
The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.38 and a current ratio of 2.90. The firm has a market cap of $1,425.05, a P/E ratio of 27.81 and a beta of 1.34.
AAR (NYSE:AIR) last announced its quarterly earnings data on Tuesday, September 19th. The aerospace company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. AAR had a net margin of 3.20% and a return on equity of 5.66%. The company had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $410.52 million. During the same period in the previous year, the company posted $0.29 EPS. AAR’s revenue was up 8.5% compared to the same quarter last year. equities analysts forecast that AAR Corp. will post 1.81 EPS for the current fiscal year.
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AAR Company Profile
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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