Auriga Reiterates a 'Hold' on AAR Corporation (AIR); Adjusting Estimates & PT After Q3 Results
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Price: $149.67 -2.63%
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
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Auriga reiterates a 'Hold' on AAR Corporation (NYSE: AIR) price target raised from $20 to $22.
Auriga analyst said, "AAR reported third-quarter operating results behind expectations, although headline EPS of $0.50 came in $0.02 ahead of consensus on a $0.09 tax benefit. Softness in the quarter stemmed entirely from weaker-than-expected margin performance, as top-line results showed a 16.6% year-over-year improvement. Although we believe a turnaround warrants close attention over the next few quarters, the combination of near-term margin pressure and weak long-term defense visibility keep us on the sidelines. That said, we are adjusting our price target, which reflects a 10x multiple of our FY13 estimate of $2.15."
For an analyst ratings summary and ratings history on AAR Corporation click here. For more ratings news on AAR Corporation click here.
Shares of AAR Corporation closed at $20.04 yesterday.
Auriga analyst said, "AAR reported third-quarter operating results behind expectations, although headline EPS of $0.50 came in $0.02 ahead of consensus on a $0.09 tax benefit. Softness in the quarter stemmed entirely from weaker-than-expected margin performance, as top-line results showed a 16.6% year-over-year improvement. Although we believe a turnaround warrants close attention over the next few quarters, the combination of near-term margin pressure and weak long-term defense visibility keep us on the sidelines. That said, we are adjusting our price target, which reflects a 10x multiple of our FY13 estimate of $2.15."
For an analyst ratings summary and ratings history on AAR Corporation click here. For more ratings news on AAR Corporation click here.
Shares of AAR Corporation closed at $20.04 yesterday.
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