AAR (AIR) Stock Rating Reaffirmed by Canaccord Genuity
AAR (NYSE:AIR)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity in a research report issued to clients and investors on Thursday. They presently have a $52.00 price target on the aerospace company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 16.25% from the stock’s previous close.
The analysts wrote, “We are adjusting our Q1/19 revenue estimate by ~$40M due to timing issues in the MRO market. Specifically, the delays in new A320 and 737 aircraft deliveries, due largely to delays in new engine deliveries, have resulted in stronger-than-expected demand for the current aircraft fleet. Typically, when airline MRO activity hits its usual seasonal low in the summer, AAR can offset this decline at least partially with one-off visits from lessor-owned aircraft. As a result of the ~125 new aircraft delivery delays, lessors are not taking aircraft in for MRO at the usual rate. This is creating a revenue headwind for AAR in fiscal Q1/19. Management highlighted its Q1/19 outlook at our recent Global Growth Conference.””
Other equities research analysts also recently issued reports about the stock. Seaport Global Securities reaffirmed a “buy” rating and issued a $52.00 price target on shares of AAR in a research note on Friday, July 13th. Zacks Investment Research upgraded shares of AAR from a “sell” rating to a “hold” rating in a report on Tuesday, June 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. AAR currently has a consensus rating of “Buy” and a consensus price target of $50.60.
AAR (NYSE:AIR) last posted its quarterly earnings results on Tuesday, July 10th. The aerospace company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. AAR had a net margin of 0.85% and a return on equity of 6.39%. The firm had revenue of $474.00 million during the quarter, compared to the consensus estimate of $483.51 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. equities analysts predict that AAR will post 2.71 earnings per share for the current year.
In other news, CAO Eric Pachapa sold 3,000 shares of AAR stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $46.75, for a total transaction of $140,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,626 shares in the company, valued at $450,015.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Regan sold 24,239 shares of AAR stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $47.36, for a total transaction of $1,147,959.04. Following the transaction, the vice president now owns 116,777 shares of the company’s stock, valued at $5,530,558.72. The disclosure for this sale can be found here. Insiders have sold 102,739 shares of company stock valued at $4,850,280 over the last quarter. Corporate insiders own 9.33% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA raised its position in AAR by 144.1% in the first quarter. Federated Investors Inc. PA now owns 3,146 shares of the aerospace company’s stock worth $139,000 after acquiring an additional 1,857 shares during the period. Tower Research Capital LLC TRC bought a new stake in AAR in the second quarter worth about $154,000. BlueMountain Capital Management LLC bought a new stake in AAR in the second quarter worth about $159,000. Adviser Investments LLC bought a new stake in AAR in the first quarter worth about $166,000. Finally, Amalgamated Bank bought a new stake in AAR in the first quarter worth about $204,000. Institutional investors and hedge funds own 90.68% of the company’s stock.
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
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