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

Royal Bank of Canada restated their outperform rating on shares of AAR (NYSE:AIR) in a research note released on Friday, Benzinga reports. Royal Bank of Canada currently has a $80.00 target price on the aerospace company’s stock.

AIR has been the subject of a number of other reports. William Blair assumed coverage on AAR in a research report on Monday, January 29th. They set an outperform rating for the company. Benchmark lifted their target price on AAR from $65.00 to $83.00 and gave the company a buy rating in a research report on Monday, April 15th. Finally, Stifel Nicolaus lifted their target price on AAR from $81.00 to $86.00 and gave the company a buy rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $82.50.

AAR Price Performance

Shares of AIR stock opened at $71.33 on Friday. AAR has a 52-week low of $50.06 and a 52-week high of $73.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.33 and a current ratio of 2.90. The firm has a market capitalization of $2.53 billion, a P/E ratio of 41.96 and a beta of 1.60. The stock has a 50 day moving average price of $65.79 and a 200 day moving average price of $65.03.

AAR (NYSE:AIR) last issued its quarterly earnings results on Thursday, March 21st. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. AAR had a return on equity of 10.17% and a net margin of 2.73%. The firm had revenue of $567.30 million during the quarter, compared to analyst estimates of $567.63 million. As a group, sell-side analysts predict that AAR will post 3.3 earnings per share for the current year.

Insider Activity

In other news, CEO John Mcclain Holmes III sold 28,145 shares of AAR stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total value of $1,631,284.20. Following the transaction, the chief executive officer now directly owns 303,621 shares in the company, valued at approximately $17,597,873.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO John Mcclain Holmes III sold 28,145 shares of AAR stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $57.96, for a total value of $1,631,284.20. Following the transaction, the chief executive officer now directly owns 303,621 shares in the company, valued at approximately $17,597,873.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jessica A. Garascia sold 7,352 shares of AAR stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $63.37, for a total value of $465,896.24. Following the completion of the transaction, the chief accounting officer now owns 28,165 shares in the company, valued at $1,784,816.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,770 shares of company stock worth $6,387,031. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in AAR by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,761,632 shares of the aerospace company’s stock worth $234,726,000 after buying an additional 44,948 shares during the last quarter. Victory Capital Management Inc. grew its stake in AAR by 4.2% during the 3rd quarter. Victory Capital Management Inc. now owns 891,347 shares of the aerospace company’s stock worth $53,062,000 after buying an additional 35,731 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in AAR by 11.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 680,241 shares of the aerospace company’s stock worth $40,494,000 after buying an additional 71,272 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in AAR by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 531,786 shares of the aerospace company’s stock worth $33,183,000 after buying an additional 17,465 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in AAR by 13.8% during 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 hedge funds and other institutional investors.

About AAR

AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. It operates through Aviation Services and Expeditionary Services segments. The Aviation Services segment engages in lease and sale of new, overhauled and repaired engine, and airframe parts and components, as well as aircrafts; and offers customized flight hour component inventory and repair, warranty claim management, and outsourcing programs for engine and airframe parts and components.