KeyCorp Has Lowered Expectations for AAR (NYSE:AIR) Stock Price

AAR (NYSE:AIR) had its price objective cut by research analysts at KeyCorp from $83.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the aerospace company’s stock. KeyCorp’s price objective would indicate a potential upside of 43.69% from the company’s previous close.

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

AAR Stock Up 0.6 %

Shares of NYSE AIR traded up $0.31 during midday trading on Wednesday, reaching $55.68. 84,306 shares of the company’s stock traded hands, compared to its average volume of 268,312. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 198.85 and a beta of 1.58. The stock’s 50 day simple moving average is $66.06 and its 200-day simple moving average is $65.29. The company has a quick ratio of 1.27, a current ratio of 2.68 and a debt-to-equity ratio of 0.84. AAR has a one year low of $54.22 and a one year high of $76.34.

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

Insider Transactions at AAR

In other AAR news, CAO Jessica A. Garascia sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $66.90, for a total transaction of $100,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 37,565 shares of the company’s stock, valued at approximately $2,513,098.50. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Mcclain Holmes III sold 128,427 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $66.76, for a total transaction of $8,573,786.52. Following the completion of the sale, the chief executive officer now directly owns 346,680 shares in the company, valued at $23,144,356.80. This trade represents a 27.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,793 shares of company stock worth $12,538,396. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in AAR by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,737 shares of the aerospace company’s stock worth $2,663,000 after purchasing an additional 3,612 shares during the period. SG Americas Securities LLC acquired a new stake in AAR during the fourth quarter worth about $1,539,000. Charles Schwab Investment Management Inc. lifted its holdings in AAR by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company’s stock valued at $32,976,000 after acquiring an additional 19,863 shares during the period. Shelton Wealth Management LLC purchased a new stake in AAR in the 4th quarter worth approximately $1,068,000. Finally, Barclays PLC grew its stake in shares of AAR by 269.4% during the 3rd quarter. Barclays PLC now owns 66,223 shares of the aerospace company’s stock worth $4,328,000 after purchasing an additional 48,298 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

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.