KeyCorp Raises AAR (NYSE:AIR) Price Target to $86.00

AAR (NYSE:AIR) had its target price lifted by investment analysts at KeyCorp from $80.00 to $86.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the aerospace company’s stock. KeyCorp’s price target would indicate a potential upside of 2.77% from the company’s previous close.

Several other research firms have also recently weighed in on AIR. Wall Street Zen raised AAR from a “sell” rating to a “hold” rating in a research report on Saturday, April 19th. Truist Financial increased their price objective on AAR from $78.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $84.00.

AAR Trading Down 1.7%

NYSE:AIR opened at $83.68 on Thursday. The company has a market capitalization of $3.02 billion, a P/E ratio of 253.58 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.72. The stock’s 50 day moving average price is $67.49 and its 200 day moving average price is $64.10. AAR has a 52 week low of $46.51 and a 52 week high of $86.43.

AAR (NYSE:AIR) last announced its earnings results on Wednesday, July 16th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $754.50 million during the quarter, compared to analysts’ expectations of $695.81 million. AAR had a return on equity of 11.66% and a net margin of 0.45%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, research analysts forecast that AAR will post 3.77 EPS for the current fiscal year.

Institutional Trading of AAR

A number of hedge funds and other institutional investors have recently made changes to their positions in AIR. Hughes Financial Services LLC acquired a new stake in shares of AAR in the first quarter valued at $28,000. Putney Financial Group LLC bought a new position in AAR in the fourth quarter valued at about $30,000. Virtus Fund Advisers LLC bought a new position in AAR in the fourth quarter valued at about $36,000. Virtus Advisers LLC bought a new position in AAR in the first quarter valued at about $47,000. Finally, Sterling Capital Management LLC boosted its holdings in AAR by 761.2% in the fourth quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock valued at $54,000 after acquiring an additional 784 shares during the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

About AAR

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.