Aircastle Limited (NYSE:AYR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, July 4th. The brokerage currently has a $24.00 price objective on the transportation company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 3.27% from the company’s previous close.
According to Zacks, “AIRCASTLE LTD are a global company that acquires and leases high utility commercial jet aircraft to passenger and cargo airlines throughout the world. High utility aircraft are generally modern, operationally efficient jets with a large operator base and long useful lives. They also make investments in other aviation assets, including debt securities secured by commercial jet aircraft. “
Several other equities analysts have also commented on AYR. Royal Bank Of Canada reaffirmed a “hold” rating and set a $25.00 target price on shares of Aircastle Limited in a report on Friday, April 21st. FBR & Co reduced their price objective on Aircastle Limited from $27.50 to $26.00 and set a “market perform” rating for the company in a research report on Thursday, May 4th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $24.00 price objective (down from $26.00) on shares of Aircastle Limited in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Aircastle Limited currently has an average rating of “Hold” and a consensus price target of $24.20.
Shares of Aircastle Limited (NYSE AYR) opened at 23.24 on Tuesday. The firm has a market cap of $1.83 billion, a P/E ratio of 11.62 and a beta of 1.80. Aircastle Limited has a 12-month low of $18.26 and a 12-month high of $25.98. The company’s 50 day moving average price is $22.09 and its 200-day moving average price is $22.81.
Aircastle Limited (NYSE:AYR) last posted its earnings results on Thursday, May 4th. The transportation company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The company had revenue of $204.30 million during the quarter, compared to analyst estimates of $204.22 million. Aircastle Limited had a return on equity of 8.88% and a net margin of 19.81%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 earnings per share. On average, equities research analysts anticipate that Aircastle Limited will post $2.38 EPS for the current year.
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Several large investors have recently made changes to their positions in AYR. Searle & CO. bought a new stake in shares of Aircastle Limited during the fourth quarter worth approximately $209,000. Russell Investments Group Ltd. bought a new stake in shares of Aircastle Limited during the fourth quarter worth approximately $172,000. Norges Bank bought a new stake in shares of Aircastle Limited during the fourth quarter worth approximately $10,051,000. Teachers Advisors LLC increased its stake in shares of Aircastle Limited by 13.1% in the fourth quarter. Teachers Advisors LLC now owns 84,711 shares of the transportation company’s stock worth $1,766,000 after buying an additional 9,784 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Aircastle Limited by 10.5% in the first quarter. First Trust Advisors LP now owns 164,623 shares of the transportation company’s stock worth $3,972,000 after buying an additional 15,643 shares during the period. Institutional investors own 63.22% of the company’s stock.
About Aircastle Limited
Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.
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