Benchmark Reiterates Buy Rating for AAR (NYSE:AIR)

AAR (NYSE:AIR)‘s stock had its “buy” rating reissued by analysts at Benchmark in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $83.00 price objective on the aerospace company’s stock. Benchmark’s target price points to a potential upside of 26.76% from the stock’s current price.

A number of other analysts also recently commented on AIR. Stifel Nicolaus dropped their price objective on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. StockNews.com downgraded shares of AAR from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 target price on shares of AAR in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

AAR Stock Up 0.3 %

AIR stock opened at $65.48 on Friday. The stock has a market cap of $2.32 billion, a PE ratio of 38.52 and a beta of 1.55. The firm’s 50-day simple moving average is $64.34 and its 200 day simple moving average is $66.68. AAR has a fifty-two week low of $54.71 and a fifty-two week high of $76.34. The company has a quick ratio of 1.41, a current ratio of 2.98 and a debt-to-equity ratio of 0.83.

AAR (NYSE:AIR) last released its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. AAR had a return on equity of 10.31% and a net margin of 2.67%. The company had revenue of $661.70 million for the quarter, compared to analysts’ expectations of $645.60 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts predict that AAR will post 3.72 EPS for the current year.

Institutional Investors Weigh In On AAR

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of AAR by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,761,632 shares of the aerospace company’s stock valued at $234,726,000 after acquiring an additional 44,948 shares in the last quarter. Earnest Partners LLC raised its position in AAR by 3.2% in the second quarter. Earnest Partners LLC now owns 1,588,893 shares of the aerospace company’s stock worth $115,513,000 after purchasing an additional 48,630 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in AAR during the second quarter worth about $77,754,000. American Century Companies Inc. boosted its holdings in AAR by 1,956.5% during the second quarter. American Century Companies Inc. now owns 909,953 shares of the aerospace company’s stock valued at $66,154,000 after purchasing an additional 865,705 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of AAR by 41.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 551,439 shares of the aerospace company’s stock valued at $40,090,000 after purchasing an additional 160,363 shares during the period. Institutional investors own 90.74% of the company’s stock.

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.