KeyCorp Issues Pessimistic Forecast for AAR (NYSE:AIR) Stock Price

AAR (NYSE:AIR) had its price target reduced by KeyCorp from $83.00 to $80.00 in a report issued on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the aerospace company’s stock.

Other equities analysts also recently issued reports about the stock. Truist Financial cut their price target on shares of AAR from $81.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, March 28th. StockNews.com cut AAR from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.20.

AAR Price Performance

NYSE:AIR opened at $57.55 on Wednesday. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 205.54 and a beta of 1.32. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.68 and a quick ratio of 1.27. The business has a 50 day simple moving average of $65.79 and a 200-day simple moving average of $65.24. AAR has a 1 year low of $54.22 and a 1 year high of $76.34.

AAR (NYSE:AIR) last issued its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. AAR had a return on equity of 10.46% and a net margin of 0.41%. The company had revenue of $678.20 million during the quarter, compared to the consensus estimate of $699.13 million. During the same period last year, the company earned $0.85 earnings per share. AAR’s revenue was up 19.5% on a year-over-year basis. Equities analysts forecast that AAR will post 3.77 EPS for the current year.

Insiders Place Their Bets

In other AAR news, CEO John Mcclain Holmes III sold 5,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $70.81, for a total value of $354,050.00. Following the completion of the sale, the chief executive officer now directly owns 341,680 shares in the company, valued at approximately $24,194,360.80. This represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sean M. Gillen sold 17,385 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.33, for a total value of $1,153,147.05. Following the transaction, the chief financial officer now owns 72,326 shares in the company, valued at approximately $4,797,383.58. This represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,793 shares of company stock worth $12,538,396 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of AAR

Hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI bought a new position in shares of AAR during the third quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in AAR in the fourth quarter worth approximately $30,000. Virtus Fund Advisers LLC purchased a new stake in AAR during the fourth quarter worth $36,000. Sterling Capital Management LLC boosted its position in AAR by 761.2% during the 4th quarter. Sterling Capital Management LLC now owns 887 shares of the aerospace company’s stock valued at $54,000 after acquiring an additional 784 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of AAR by 124.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 561 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.

About AAR

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.