KeyCorp Cuts AAR (NYSE:AIR) Price Target to $80.00

AAR (NYSE:AIR - Get Free Report) had its target price dropped by KeyCorp from $83.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the aerospace company's stock. KeyCorp's price objective would indicate a potential upside of 59.71% from the company's current price.

Several other brokerages also recently commented on AIR. Truist Financial lowered their target price on AAR from $81.00 to $78.00 and set a "buy" rating for the company in a research note on Friday, March 28th. StockNews.com downgraded shares of AAR from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. One 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, the company currently has an average rating of "Moderate Buy" and an average price target of $80.20.

AAR Price Performance

NYSE AIR traded down $3.49 during midday trading on Wednesday, hitting $50.09. The company had a trading volume of 463,717 shares, compared to its average volume of 278,264. The firm has a 50-day moving average price of $65.05 and a 200-day moving average price of $65.02. The company has a market capitalization of $1.81 billion, a PE ratio of 178.90 and a beta of 1.32. The company has a current ratio of 2.68, a quick ratio of 1.27 and a debt-to-equity ratio of 0.84. AAR has a twelve month low of $48.80 and a twelve month high of $76.34.

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AAR (NYSE:AIR - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. AAR had a net margin of 0.41% and a return on equity of 10.46%. The business had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. During the same quarter last year, the business posted $0.85 EPS. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. As a group, analysts anticipate that AAR will post 3.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Mcclain Holmes III sold 5,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $70.81, for a total value of $354,050.00. Following the transaction, the chief executive officer now owns 341,680 shares in the company, valued at approximately $24,194,360.80. The trade was a 1.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher A. Jessup sold 33,481 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $70.40, for a total value of $2,357,062.40. Following the completion of the transaction, the senior vice president now directly owns 63,209 shares in the company, valued at $4,449,913.60. This represents a 34.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,793 shares of company stock valued at $12,538,396 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AAR

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in AAR by 9.7% during the third 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 last quarter. SG Americas Securities LLC purchased a new stake in shares of AAR during the 4th quarter worth approximately $1,539,000. Charles Schwab Investment Management Inc. lifted its position in shares of AAR by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 538,125 shares of the aerospace company's stock valued at $32,976,000 after buying an additional 19,863 shares during the last quarter. Shelton Wealth Management LLC purchased a new stake in shares of AAR during the fourth quarter worth $1,068,000. Finally, Barclays PLC raised 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 valued at $4,328,000 after purchasing an additional 48,298 shares during the period. Institutional investors and hedge funds own 90.74% of the company's stock.

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.