AAR (NYSE:AIR) Reaches New 1-Year Low Following Analyst Downgrade

AAR Corp. (NYSE:AIR - Get Free Report) hit a new 52-week low during trading on Monday after KeyCorp lowered their price target on the stock from $83.00 to $80.00. KeyCorp currently has an overweight rating on the stock. AAR traded as low as $54.22 and last traded at $55.12, with a volume of 158599 shares. The stock had previously closed at $57.14.

A number of other research analysts have also weighed in on AIR. Truist Financial reduced their price target on AAR from $81.00 to $78.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. StockNews.com downgraded AAR from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.20.

Insider Activity

In other AAR news, CAO Jessica A. Garascia sold 1,500 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $66.90, for a total transaction of $100,350.00. Following the completion of the sale, the chief accounting officer now owns 37,565 shares of the company's stock, valued at approximately $2,513,098.50. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher A. Jessup sold 33,481 shares of the company's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $70.40, for a total value of $2,357,062.40. Following the sale, the senior vice president now owns 63,209 shares of the company's stock, 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 sold 185,793 shares of company stock valued at $12,538,396 in the last ninety days. Company insiders own 4.10% of the company's stock.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its stake in shares of AAR by 24.2% in the 3rd quarter. FMR LLC now owns 109,543 shares of the aerospace company's stock valued at $7,160,000 after acquiring an additional 21,342 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in AAR by 5.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,843 shares of the aerospace company's stock valued at $643,000 after purchasing an additional 551 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AAR by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 76,451 shares of the aerospace company's stock valued at $4,997,000 after purchasing an additional 879 shares during the period. Captrust Financial Advisors lifted its stake in shares of AAR by 5.3% during the third quarter. Captrust Financial Advisors now owns 3,537 shares of the aerospace company's stock worth $231,000 after purchasing an additional 177 shares in the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of AAR by 28.7% in the third quarter. Verition Fund Management LLC now owns 18,017 shares of the aerospace company's stock worth $1,178,000 after buying an additional 4,015 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

AAR Trading Down 6.7 %

The business has a 50 day moving average price of $65.46 and a 200-day moving average price of $65.16. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 191.99 and a beta of 1.32. 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 (NYSE:AIR - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. The company had revenue of $678.20 million for the quarter, compared to analyst estimates of $699.13 million. AAR had a net margin of 0.41% and a return on equity of 10.46%. The business's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, research analysts expect that AAR Corp. will post 3.77 EPS for the current fiscal year.

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.