- AAR Corp’s (NYSE:AIR) price target has been raised to $56 (an upside of 12%) from $50 by RBC Capital analyst Ken Herbert while maintaining his Outperform rating on the shares.
- The analyst notes AAR’s Q3 results showed steady improvement, with aviation sales up just under 3% Q/Q.
- Herbert specifies that AAR faced some softness early in the quarter in its parts business due to the impact of Omicron.
- Truist Securities analyst Michael Ciarmoli raised his price target on AAR to $58 (an upside of 16%) from $53 and maintained a Buy rating on the shares.
- Recently, AAR reported its third-quarter results, with sales growth of 10% year-over-year to $452 million, beating the consensus of $432.5 million.
- Adjusted EPS was $0.63, up 70% Y/Y, beating the consensus of $0.58.
- The gross profit margin was 17.8%, down from 21% in 3Q21. The Operating margins were 6.7% versus 9.7% in 3Q21.
- Adjusted EBITDA increased by 24% Y/Y to $39.3 million, and margin expanded to 8.7%.
- Third-quarter cash flow from operating activities from continuing operations totaled $16 million.
- Price Action: AIR shares are trading higher by 6.82% at $50.09 on the last check Wednesday.
Cathie Wood’s ARK Invest Posts Fund Sales For Friday, Aug. 20, 2021: PRLB, SQ, SE, XONE, BIDU, MELI, PTSI, CDNA
Proto Labs (PRLB) - 17,225
Square (SQ) - 79,325
Sea (SE) - 66,115
The ExOne Co (XONE) - 91,224
Baidu (BIDU) - 84,975
MercadoLibre (MELI) - 5,185
Pluristem
