Canaccord Genuity upgraded shares of AAR (NYSE:AIR) from a hold rating to a buy rating in a research note released on Thursday, February 8th, MarketBeat Ratings reports. They currently have $46.00 price target on the aerospace company’s stock, up from their previous price target of $42.00.
A number of other research firms have also recently commented on AIR. Seaport Global Securities upgraded shares of AAR from a neutral rating to a buy rating and upped their price target for the stock from $39.00 to $50.00 in a report on Tuesday, January 16th. SunTrust Banks upped their price target on shares of AAR to $50.00 and gave the stock a buy rating in a report on Monday, December 4th. Noble Financial restated a buy rating on shares of AAR in a report on Friday, December 22nd. TheStreet lowered shares of AAR from a b rating to a c+ rating in a research note on Thursday, December 21st. Finally, Credit Suisse Group raised shares of AAR from a neutral rating to an outperform rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $46.50.
AAR (AIR) traded up $0.47 during mid-day trading on Thursday, reaching $42.50. 589,265 shares of the company’s stock were exchanged, compared to its average volume of 288,972. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.65 and a quick ratio of 1.23. AAR has a fifty-two week low of $31.97 and a fifty-two week high of $44.04. The company has a market capitalization of $1,459.68, a PE ratio of 63.43 and a beta of 1.36.
AAR (NYSE:AIR) last posted its quarterly earnings data on Thursday, December 21st. The aerospace company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). AAR had a net margin of 1.25% and a return on equity of 5.61%. The firm had revenue of $449.70 million for the quarter, compared to the consensus estimate of $450.56 million. During the same quarter last year, the firm earned $0.35 EPS. The company’s revenue was up 6.1% on a year-over-year basis. equities research analysts forecast that AAR will post 1.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Monday, January 22nd were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, January 19th. AAR’s payout ratio is 44.78%.
In related news, Director Ronald R. Fogleman sold 3,000 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $33.47, for a total value of $100,410.00. Following the completion of the transaction, the director now directly owns 23,406 shares of the company’s stock, valued at approximately $783,398.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David P. Storch sold 126,679 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $41.53, for a total transaction of $5,260,978.87. Following the completion of the transaction, the chief executive officer now directly owns 759,639 shares of the company’s stock, valued at $31,547,807.67. The disclosure for this sale can be found here. Corporate insiders own 9.33% of the company’s stock.
Large investors have recently modified their holdings of the stock. Macquarie Group Ltd. acquired a new position in AAR in the 3rd quarter worth approximately $144,000. Highbridge Capital Management LLC acquired a new position in AAR in the 3rd quarter worth approximately $200,000. Cubist Systematic Strategies LLC acquired a new position in AAR in the 2nd quarter worth approximately $213,000. OxFORD Asset Management LLP acquired a new position in AAR in the 2nd quarter worth approximately $230,000. Finally, Group One Trading L.P. acquired a new position in AAR in the 3rd quarter worth approximately $233,000. Institutional investors own 90.89% of the company’s stock.
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AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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