Royal Bank Of Canada Forecasts Strong Price Appreciation for AAR (NYSE:AIR) Stock

AAR (NYSE:AIR) had its target price hoisted by Royal Bank Of Canada from $75.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the aerospace company’s stock.

A number of other research analysts also recently issued reports on the stock. KeyCorp lifted their price target on shares of AAR from $80.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial upped their price target on shares of AAR from $78.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised AAR from a “sell” rating to a “hold” rating in a research note on Saturday, April 19th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AAR has a consensus rating of “Buy” and a consensus price target of $83.75.

AAR Stock Performance

NYSE AIR opened at $83.68 on Thursday. The company has a current ratio of 2.72, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average of $67.49 and a 200 day moving average of $64.12. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 253.58 and a beta of 1.44. AAR has a twelve month low of $46.51 and a twelve month high of $86.43.

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

Institutional Investors Weigh In On AAR

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in AAR by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,840,885 shares of the aerospace company’s stock worth $235,369,000 after acquiring an additional 58,694 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in AAR by 10.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,589,320 shares of the aerospace company’s stock worth $88,986,000 after acquiring an additional 148,166 shares during the period. Invesco Ltd. increased its stake in AAR by 8.4% during the 1st quarter. Invesco Ltd. now owns 1,160,420 shares of the aerospace company’s stock valued at $64,972,000 after buying an additional 89,802 shares during the period. American Century Companies Inc. lifted its holdings in shares of AAR by 2.4% in the fourth quarter. American Century Companies Inc. now owns 893,822 shares of the aerospace company’s stock valued at $54,773,000 after buying an additional 20,794 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of AAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 799,766 shares of the aerospace company’s stock worth $49,020,000 after purchasing an additional 2,804 shares during the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

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.