AAR (NYSE:AIR) Sets New 52-Week High – Still a Buy?

by · The Markets Daily

Shares of AAR Corp. (NYSE:AIRGet Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $107.56 and last traded at $106.6840, with a volume of 234471 shares. The stock had previously closed at $103.67.

Wall Street Analyst Weigh In

A number of research firms have commented on AIR. Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Royal Bank Of Canada boosted their target price on AAR from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Weiss Ratings restated a “hold (c-)” rating on shares of AAR in a research report on Monday, December 29th. KeyCorp lifted their price target on AAR from $93.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group set a $112.00 price objective on AAR and gave the stock a “buy” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, AAR has a consensus rating of “Buy” and a consensus price target of $108.25.

Check Out Our Latest Research Report on AIR

AAR Price Performance

The stock has a 50-day moving average of $86.14 and a two-hundred day moving average of $81.30. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 41.95 and a beta of 1.24. The company has a current ratio of 2.84, a quick ratio of 1.31 and a debt-to-equity ratio of 0.61.

AAR (NYSE:AIRGet Free Report) last posted its quarterly earnings data on Tuesday, January 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. AAR had a return on equity of 12.40% and a net margin of 3.17%.The firm had revenue of $795.30 million for the quarter, compared to the consensus estimate of $760.95 million. During the same quarter in the previous year, the company earned $0.90 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts anticipate that AAR Corp. will post 3.77 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Christopher A. Jessup sold 23,621 shares of AAR stock in a transaction on Friday, January 9th. The stock was sold at an average price of $97.05, for a total transaction of $2,292,418.05. Following the transaction, the senior vice president owned 65,769 shares in the company, valued at approximately $6,382,881.45. The trade was a 26.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Mcclain Holmes III sold 38,462 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $83.50, for a total value of $3,211,577.00. Following the completion of the sale, the chief executive officer directly owned 260,141 shares of the company’s stock, valued at approximately $21,721,773.50. This represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 146,696 shares of company stock worth $13,477,247. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On AAR

A number of large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in shares of AAR by 14.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,036 shares of the aerospace company’s stock worth $91,000 after purchasing an additional 134 shares during the period. Sheets Smith Wealth Management lifted its position in AAR by 1.9% in the 2nd quarter. Sheets Smith Wealth Management now owns 7,416 shares of the aerospace company’s stock worth $510,000 after buying an additional 135 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of AAR by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 10,683 shares of the aerospace company’s stock valued at $958,000 after buying an additional 147 shares during the period. Amalgamated Bank boosted its stake in shares of AAR by 1.7% during the 3rd quarter. Amalgamated Bank now owns 10,243 shares of the aerospace company’s stock valued at $918,000 after buying an additional 175 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in shares of AAR by 4.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 5,482 shares of the aerospace company’s stock valued at $377,000 after acquiring an additional 231 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.

AAR Company Profile

(Get Free Report)

AAR Corp. (NYSE: AIR) is a global provider of aviation products and services to commercial, government and defense customers. The company offers a comprehensive portfolio of maintenance, repair and overhaul (MRO) solutions, component repair and overhaul, and engineering services designed to support a wide variety of fixed-wing and rotary aircraft. Leveraging FAA and EASA certifications, AAR delivers turnkey maintenance programs and ad hoc repair services that enhance aircraft availability and reliability.

In its Aviation Supply Chain Services segment, AAR sources, stores and distributes parts for both commercial airlines and military operators.

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