AAR (NYSE:AIR) Sets New 52-Week High – Should You Buy?

AAR Corp. (NYSE:AIR)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $118.00 and last traded at $118.45, with a volume of 53456 shares traded. The stock had previously closed at $116.69.

Wall Street Analyst Weigh In

AIR has been the subject of several recent analyst reports. KeyCorp increased their price objective on AAR from $93.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial set a $107.00 target price on shares of AAR in a research report on Friday, January 9th. Weiss Ratings restated a “hold (c-)” rating on shares of AAR in a research report on Monday, December 29th. The Goldman Sachs Group assumed coverage on shares of AAR in a research note on Monday, January 26th. They set a “neutral” rating and a $121.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of AAR from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $115.40.

AAR Stock Up 1.4%

The business has a fifty day moving average of $100.02 and a 200 day moving average of $87.17. The company has a quick ratio of 1.31, a current ratio of 2.84 and a debt-to-equity ratio of 0.61. The firm has a market cap of $4.68 billion, a P/E ratio of 46.40 and a beta of 1.23.

AAR (NYSE:AIR) last posted its earnings results 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. The company had revenue of $795.30 million during the quarter, compared to analyst estimates of $760.95 million. AAR had a return on equity of 12.40% and a net margin of 3.17%.The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. On average, equities research analysts predict that AAR Corp. will post 3.77 EPS for the current year.

Insider Activity

In other AAR news, CEO John Mcclain Holmes III sold 10,000 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $108.44, for a total value of $1,084,400.00. Following the completion of the sale, the chief executive officer directly owned 237,064 shares in the company, valued at $25,707,220.16. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jessica A. Garascia sold 4,787 shares of AAR stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $95.25, for a total value of $455,961.75. Following the transaction, the chief accounting officer owned 29,557 shares in the company, valued at $2,815,304.25. This trade represents a 13.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 128,984 shares of company stock worth $12,517,090 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of AAR

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in AAR by 144.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,486,775 shares of the aerospace company’s stock valued at $133,319,000 after buying an additional 878,188 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in AAR by 297.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 594,668 shares of the aerospace company’s stock worth $49,233,000 after acquiring an additional 445,026 shares in the last quarter. UBS Group AG grew its stake in AAR by 709.2% in the third quarter. UBS Group AG now owns 488,239 shares of the aerospace company’s stock valued at $43,780,000 after purchasing an additional 427,906 shares in the last quarter. State Street Corp increased its position in shares of AAR by 17.1% during the 4th quarter. State Street Corp now owns 2,320,927 shares of the aerospace company’s stock worth $192,150,000 after purchasing an additional 339,595 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of AAR by 36.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,154,167 shares of the aerospace company’s stock worth $107,752,000 after purchasing an additional 311,258 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors.

About AAR

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.