AAR (AIR) Upgraded to Buy by Canaccord Genuity
Canaccord Genuity upgraded shares of AAR (NYSE:AIR) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, Marketbeat reports. Canaccord Genuity currently has $46.00 price target on the aerospace company’s stock, up from their prior price target of $42.00.
AIR has been the topic of a number of other reports. SunTrust Banks raised their price objective on shares of AAR to $50.00 and gave the stock a buy rating in a report on Monday, December 4th. Credit Suisse Group upgraded shares of AAR from a neutral rating to an outperform rating in a report on Friday, January 12th. TheStreet lowered shares of AAR from a b rating to a c+ rating in a report on Thursday, December 21st. Noble Financial restated a buy rating on shares of AAR in a report on Friday, December 22nd. Finally, Seaport Global Securities upgraded shares of AAR from a neutral rating to a buy rating and raised their price objective for the stock from $39.00 to $50.00 in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $46.50.
Shares of AAR (NYSE AIR) opened at $39.06 on Thursday. AAR has a twelve month low of $31.97 and a twelve month high of $44.04. The company has a current ratio of 2.65, a quick ratio of 1.23 and a debt-to-equity ratio of 0.24. The company has a market cap of $1,370.00, a price-to-earnings ratio of 84.91 and a beta of 1.36.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Monday, January 22nd were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.77%. AAR’s payout ratio is 65.22%.
In other AAR news, Director Ronald R. Fogleman sold 3,000 shares of AAR 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 sale, the director now directly owns 23,406 shares in the company, valued at approximately $783,398.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David P. Storch sold 126,679 shares of AAR stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $41.53, for a total transaction of $5,260,978.87. Following the completion of the sale, the chief executive officer now owns 759,639 shares in the company, valued at $31,547,807.67. The disclosure for this sale can be found here. 9.33% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in AAR by 4.2% in the 4th quarter. BlackRock Inc. now owns 5,329,972 shares of the aerospace company’s stock valued at $209,416,000 after buying an additional 217,049 shares during the last quarter. State Street Corp increased its stake in AAR by 1.6% in the 2nd quarter. State Street Corp now owns 1,119,196 shares of the aerospace company’s stock valued at $38,901,000 after buying an additional 17,488 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in AAR in the 4th quarter valued at $30,164,000. Rothschild Asset Management Inc. increased its stake in AAR by 6.1% in the 3rd quarter. Rothschild Asset Management Inc. now owns 702,718 shares of the aerospace company’s stock valued at $26,549,000 after buying an additional 40,308 shares during the last quarter. Finally, Beach Point Capital Management LP increased its stake in AAR by 102.5% in the 4th quarter. Beach Point Capital Management LP now owns 459,046 shares of the aerospace company’s stock valued at $18,036,000 after buying an additional 232,382 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.
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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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