SunTrust Banks Lowers AAR (AIR) to Hold
SunTrust Banks lowered shares of AAR (NYSE:AIR) from a buy rating to a hold rating in a research note published on Tuesday morning, Marketbeat.com reports. They currently have $47.00 target price on the aerospace company’s stock, down from their previous target price of $50.00. SunTrust Banks also issued estimates for AAR’s Q1 2019 earnings at $0.50 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.69 EPS, Q4 2019 earnings at $0.88 EPS, FY2019 earnings at $2.63 EPS, Q1 2020 earnings at $0.60 EPS, Q2 2020 earnings at $0.75 EPS, Q3 2020 earnings at $0.82 EPS, Q4 2020 earnings at $0.91 EPS and FY2020 earnings at $3.07 EPS.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of AAR from a hold rating to a sell rating in a report on Wednesday, May 23rd. Canaccord Genuity reaffirmed a buy rating and set a $52.00 price target (up previously from $48.00) on shares of AAR in a report on Wednesday, July 11th. Finally, Seaport Global Securities reaffirmed a buy rating and set a $52.00 price target on shares of AAR in a report on Friday, July 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $50.80.
NYSE AIR opened at $42.75 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 23.88 and a beta of 1.24. AAR has a 12-month low of $34.93 and a 12-month high of $49.05.
In related news, Director David P. Storch sold 63,736 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $47.20, for a total value of $3,008,339.20. Following the completion of the transaction, the director now owns 705,281 shares of the company’s stock, valued at approximately $33,289,263.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert J. Regan sold 24,239 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $47.36, for a total transaction of $1,147,959.04. Following the completion of the transaction, the vice president now directly owns 116,777 shares of the company’s stock, valued at approximately $5,530,558.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,739 shares of company stock valued at $4,850,280. 7.43% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in AAR by 2.6% in the 2nd quarter. BlackRock Inc. now owns 5,623,931 shares of the aerospace company’s stock valued at $261,458,000 after purchasing an additional 141,464 shares during the last quarter. Franklin Resources Inc. lifted its stake in AAR by 24.8% in the 1st quarter. Franklin Resources Inc. now owns 3,329,981 shares of the aerospace company’s stock valued at $146,885,000 after purchasing an additional 662,512 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in AAR by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,935,600 shares of the aerospace company’s stock valued at $129,489,000 after purchasing an additional 11,936 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in AAR by 14.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,111,945 shares of the aerospace company’s stock valued at $51,694,000 after purchasing an additional 141,925 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in AAR by 11,341.5% in the 2nd quarter. Glenmede Trust Co. NA now owns 698,849 shares of the aerospace company’s stock valued at $32,490,000 after purchasing an additional 692,741 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company operates in two segments, Aviation Services and Expeditionary Services. The Aviation Services segment offers aftermarket support and services; inventory management and distribution services; and maintenance, repair, and overhaul, as well as engineering services.
See Also: Price to Earnings Ratio (PE) Basics
Receive News & Ratings for AAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAR and related companies with MarketBeat.com's FREE daily email newsletter.