SunTrust Banks Increases AAR (AIR) Price Target to $50.00

AAR (NYSE:AIR) had its price target lifted by SunTrust Banks to $50.00 in a note issued to investors on Monday. The firm presently has a “buy” rating on the aerospace company’s stock. SunTrust Banks’ target price points to a potential upside of 18.51% from the stock’s previous close.

AIR has been the subject of several other research reports. Seaport Global Securities started coverage on shares of AAR in a report on Tuesday, September 12th. They set a “neutral” rating and a $39.00 target price for the company. Canaccord Genuity started coverage on shares of AAR in a report on Wednesday, September 6th. They set a “hold” rating and a $40.00 target price for the company. Zacks Investment Research raised shares of AAR from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. Finally, Noble Financial reaffirmed a “buy” rating on shares of AAR in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $42.25.

AAR (NYSE AIR) opened at $42.19 on Monday. AAR has a 12-month low of $31.20 and a 12-month high of $42.57. The company has a market cap of $1,460.01, a PE ratio of 28.49 and a beta of 1.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.90 and a quick ratio of 1.38.

AAR (NYSE:AIR) last announced its earnings results on Tuesday, September 19th. The aerospace company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $439.20 million during the quarter, compared to the consensus estimate of $410.52 million. AAR had a net margin of 3.20% and a return on equity of 5.66%. AAR’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. sell-side analysts expect that AAR will post 1.81 earnings per share for the current year.

In related news, Director Ronald R. Fogleman sold 3,000 shares of AAR stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $33.47, for a total transaction of $100,410.00. Following the completion of the sale, the director now 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 this link. Insiders own 9.33% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System raised its stake in AAR by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 33,488 shares of the aerospace company’s stock worth $1,164,000 after purchasing an additional 93 shares in the last quarter. Anchor Capital Advisors LLC raised its stake in AAR by 0.6% in the 2nd quarter. Anchor Capital Advisors LLC now owns 26,613 shares of the aerospace company’s stock worth $925,000 after purchasing an additional 150 shares in the last quarter. Texas Permanent School Fund raised its stake in AAR by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 23,309 shares of the aerospace company’s stock worth $810,000 after purchasing an additional 195 shares in the last quarter. Victory Capital Management Inc. raised its stake in AAR by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,262 shares of the aerospace company’s stock worth $148,000 after purchasing an additional 639 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in AAR by 6.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the aerospace company’s stock worth $381,000 after purchasing an additional 680 shares in the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.

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About AAR

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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