AAR (NYSE:AIR) Coverage Initiated at Stifel Nicolaus
Stifel Nicolaus started coverage on shares of AAR (NYSE:AIR) in a report published on Monday morning, Benzinga reports. The firm issued a buy rating and a $50.00 price objective on the aerospace company’s stock.
A number of other research firms have also weighed in on AIR. Zacks Investment Research lowered shares of HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Canaccord Genuity dropped their price target on shares of Western Energy Services from C$0.50 to C$0.40 in a research report on Wednesday, March 20th. Finally, ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $49.57.
AIR opened at $42.62 on Monday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 15.32 and a beta of 1.18. AAR has a 1-year low of $29.84 and a 1-year high of $51.52. The stock has a 50 day moving average price of $34.13. The company has a current ratio of 2.76, a quick ratio of 1.33 and a debt-to-equity ratio of 0.20.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 19th will be given a $0.075 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.70%. AAR’s payout ratio is currently 12.71%.
Several large investors have recently modified their holdings of the stock. Comerica Bank boosted its position in AAR by 1.0% in the 4th quarter. Comerica Bank now owns 31,997 shares of the aerospace company’s stock valued at $1,169,000 after buying an additional 332 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in AAR in the 4th quarter valued at $463,000. BlackRock Inc. boosted its position in AAR by 3.6% in the 4th quarter. BlackRock Inc. now owns 6,159,968 shares of the aerospace company’s stock valued at $230,014,000 after buying an additional 214,712 shares during the last quarter. Texas Permanent School Fund boosted its position in AAR by 4.9% in the 4th quarter. Texas Permanent School Fund now owns 21,325 shares of the aerospace company’s stock valued at $796,000 after buying an additional 997 shares during the last quarter. Finally, Raymond James & Associates boosted its position in AAR by 5.9% in the 4th quarter. Raymond James & Associates now owns 10,641 shares of the aerospace company’s stock valued at $397,000 after buying an additional 596 shares during the last quarter. Hedge funds and other institutional investors own 89.40% of the company’s stock.
AAR Company Profile
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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