Royal Bank of Canada Reaffirms Outperform Rating for AAR (NYSE:AIR)

AAR (NYSE:AIR)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $85.00 price objective on the aerospace company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 23.03% from the company’s previous close.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of AAR from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Stifel Nicolaus reduced their price objective on AAR from $86.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

AAR Stock Performance

AAR stock opened at $69.09 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.98 and a quick ratio of 1.41. AAR has a 12 month low of $54.71 and a 12 month high of $76.34. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 40.64 and a beta of 1.55. The stock’s 50-day moving average is $65.05 and its 200-day moving average is $66.62.

AAR (NYSE:AIR) last posted its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. AAR had a net margin of 2.00% and a return on equity of 10.16%. The firm had revenue of $661.70 million for the quarter, compared to analyst estimates of $645.60 million. During the same quarter last year, the firm posted $0.78 earnings per share. AAR’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts anticipate that AAR will post 3.74 earnings per share for the current year.

Institutional Investors Weigh In On AAR

A number of large investors have recently added to or reduced their stakes in AIR. EverSource Wealth Advisors LLC boosted its position in AAR by 283.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 544 shares of the aerospace company’s stock valued at $33,000 after buying an additional 402 shares during the last quarter. Quest Partners LLC purchased a new position in AAR in the second quarter valued at about $33,000. Innealta Capital LLC acquired a new stake in AAR during the 2nd quarter valued at approximately $49,000. Geneos Wealth Management Inc. purchased a new stake in AAR during the 1st quarter worth approximately $63,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of AAR by 348.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,416 shares of the aerospace company’s stock valued at $103,000 after purchasing an additional 1,100 shares in the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Company Profile

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.