Truist Financial Trims AAR (NYSE:AIR) Target Price to $48.00

AAR (NYSE:AIRGet Rating) had its target price cut by stock analysts at Truist Financial from $54.00 to $48.00 in a note issued to investors on Friday, The Fly reports. Truist Financial’s price objective points to a potential upside of 26.25% from the company’s current price.

A number of other brokerages have also issued reports on AIR. StockNews.com upgraded shares of AAR from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. TheStreet lowered shares of AAR from a “b-” rating to a “c+” rating in a research report on Friday, July 22nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, AAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

AAR Price Performance

NYSE:AIR opened at $38.02 on Friday. AAR has a 12 month low of $31.73 and a 12 month high of $52.83. The company’s 50-day moving average price is $43.65 and its two-hundred day moving average price is $45.28. The firm has a market cap of $1.35 billion, a PE ratio of 17.36 and a beta of 1.51. The company has a quick ratio of 1.31, a current ratio of 2.89 and a debt-to-equity ratio of 0.10.

AAR (NYSE:AIRGet Rating) last announced its earnings results on Thursday, September 22nd. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. AAR had a net margin of 4.32% and a return on equity of 8.53%. The company had revenue of $446.30 million for the quarter, compared to analyst estimates of $455.10 million. During the same period in the prior year, the business earned $0.52 earnings per share. AAR’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts anticipate that AAR will post 2.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David P. Storch sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $46.81, for a total transaction of $1,170,250.00. Following the completion of the sale, the director now directly owns 315,090 shares of the company’s stock, valued at $14,749,362.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AAR

Several large investors have recently bought and sold shares of AIR. Teacher Retirement System of Texas bought a new stake in AAR in the fourth quarter valued at approximately $252,000. Invesco Ltd. boosted its holdings in AAR by 17.5% during the fourth quarter. Invesco Ltd. now owns 396,818 shares of the aerospace company’s stock worth $15,488,000 after purchasing an additional 59,037 shares during the last quarter. Barclays PLC lifted its stake in AAR by 74.9% in the fourth quarter. Barclays PLC now owns 64,598 shares of the aerospace company’s stock valued at $2,521,000 after acquiring an additional 27,667 shares during the last quarter. Cooper Creek Partners Management LLC bought a new position in shares of AAR in the fourth quarter valued at about $190,000. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of AAR by 5.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 343,750 shares of the aerospace company’s stock valued at $13,417,000 after purchasing an additional 17,780 shares during the period. Institutional investors own 98.13% of the company’s stock.

AAR Company Profile

(Get Rating)

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services. This segment also sells and leases new, overhauled, and repaired engine and airframe parts, and components; and provides inventory and repair programs, warranty claim management, and outsourcing programs for engine and airframe parts and components, as well as performance-based supply chain logistics programs in support of the U.S.

Further Reading

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