AAR (NYSE:AIR) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of AAR (NYSE:AIR) in a research report report published on Monday,Benzinga reports. Royal Bank of Canada currently has a $75.00 price target on the aerospace company’s stock.

Other equities research analysts also recently issued reports about the company. Benchmark reaffirmed a “buy” rating and set a $83.00 price target on shares of AAR in a research report on Friday, October 4th. Stifel Nicolaus dropped their target price on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Finally, StockNews.com upgraded AAR from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, AAR presently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

AAR Price Performance

Shares of AIR opened at $62.45 on Monday. The business’s 50-day moving average is $63.83 and its two-hundred day moving average is $66.70. The company has a market capitalization of $2.24 billion, a P/E ratio of 34.31 and a beta of 1.57. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 3.06. AAR has a fifty-two week low of $54.71 and a fifty-two week high of $76.34.

AAR (NYSE:AIR) last announced its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $661.70 million for the quarter, compared to the consensus estimate of $645.60 million. AAR had a return on equity of 10.22% and a net margin of 2.67%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. Research analysts predict that AAR will post 3.63 earnings per share for the current year.

Institutional Investors Weigh In On AAR

A number of institutional investors have recently modified their holdings of the business. Earnest Partners LLC grew its position in shares of AAR by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company’s stock valued at $115,513,000 after acquiring an additional 48,630 shares during the period. Westwood Holdings Group Inc. acquired a new stake in AAR in the 2nd quarter worth about $77,754,000. American Century Companies Inc. boosted its holdings in AAR by 1,956.5% in the 2nd quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock worth $66,154,000 after buying an additional 865,705 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in AAR by 32.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 732,957 shares of the aerospace company’s stock worth $47,906,000 after buying an additional 181,518 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in AAR by 13.8% in the 1st quarter. Janus Henderson Group PLC now owns 530,682 shares of the aerospace company’s stock worth $31,772,000 after buying an additional 64,274 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

AAR Company Profile

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.