AAR (NYSE:AIR) Given "Outperform" Rating at Royal Bank of Canada

AAR (NYSE:AIR - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Royal Bank of Canada in a report released on Monday, Benzinga reports. They currently have a $75.00 price objective on the aerospace company's stock. Royal Bank of Canada's price objective indicates a potential upside of 26.80% from the stock's previous close.

Several other equities research analysts have also commented on the company. Benchmark reissued a "buy" rating and set a $83.00 price target on shares of AAR in a research note on Friday, October 4th. Stifel Nicolaus reduced their price target on AAR from $86.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, July 19th. Finally, StockNews.com upgraded AAR from a "sell" rating to a "hold" rating in a report on Monday, October 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.00.

AAR Stock Performance

Shares of AIR traded up $0.75 during mid-day trading on Monday, reaching $59.15. The company had a trading volume of 171,942 shares, compared to its average volume of 306,278. The stock has a market capitalization of $2.12 billion, a P/E ratio of 32.29 and a beta of 1.57. The stock has a 50 day moving average of $64.07 and a two-hundred day moving average of $66.79. The company has a quick ratio of 1.45, a current ratio of 3.06 and a debt-to-equity ratio of 0.81. AAR has a 52-week low of $54.71 and a 52-week high of $76.34.

AAR (NYSE:AIR - Get Free Report) last announced its quarterly earnings results on Monday, September 23rd. The aerospace company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. AAR had a return on equity of 10.22% and a net margin of 2.67%. The company had revenue of $661.70 million during the quarter, compared to the consensus estimate of $645.60 million. During the same period in the previous year, the business earned $0.78 EPS. AAR's revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts expect that AAR will post 3.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D boosted its holdings in AAR by 14.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 30,739 shares of the aerospace company's stock worth $2,009,000 after buying an additional 3,909 shares during the last quarter. Principal Financial Group Inc. boosted its position in AAR by 18.5% during the 3rd quarter. Principal Financial Group Inc. now owns 500,200 shares of the aerospace company's stock worth $32,693,000 after acquiring an additional 77,974 shares during the last quarter. Amalgamated Bank raised its stake in shares of AAR by 1.7% during the 3rd quarter. Amalgamated Bank now owns 10,319 shares of the aerospace company's stock worth $674,000 after purchasing an additional 177 shares in the last quarter. Emerald Advisers LLC raised its stake in shares of AAR by 1.3% during the 3rd quarter. Emerald Advisers LLC now owns 491,406 shares of the aerospace company's stock worth $32,118,000 after purchasing an additional 6,399 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of AAR by 3.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 20,094 shares of the aerospace company's stock worth $1,313,000 after purchasing an additional 653 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.

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.