Aircastle Ltd. (AYR) Receives $23.25 Average Target Price from Brokerages
Shares of Aircastle Ltd. (NYSE:AYR) have received an average recommendation of “Hold” from the twelve brokerages that are presently covering the firm. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $23.25.
Several analysts have recently commented on AYR shares. TheStreet cut shares of Aircastle from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Stephens started coverage on shares of Aircastle in a research note on Tuesday, November 1st. They issued an “underweight” rating and a $20.00 target price for the company. FBR & Co restated a “hold” rating and issued a $23.00 target price on shares of Aircastle in a research note on Monday, September 19th. Zacks Investment Research upgraded shares of Aircastle from a “sell” rating to a “hold” rating in a research note on Thursday, November 10th. Finally, DA Davidson restated a “buy” rating and issued a $24.00 target price on shares of Aircastle in a research note on Wednesday, November 9th.
Shares of Aircastle (NYSE:AYR) opened at 22.73 on Friday. Aircastle has a 52 week low of $15.06 and a 52 week high of $22.99. The company’s 50-day moving average is $20.80 and its 200 day moving average is $20.86. The stock has a market cap of $1.79 billion, a PE ratio of 13.48 and a beta of 1.65.
Aircastle (NYSE:AYR) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.05. The business had revenue of $194.70 million for the quarter, compared to analyst estimates of $189.93 million. Aircastle had a return on equity of 8.02% and a net margin of 17.25%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.12) EPS. Analysts forecast that Aircastle will post $1.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 29th will be issued a dividend of $0.26 per share. This is an increase from Aircastle’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 4.58%. The ex-dividend date is Friday, November 25th. Aircastle’s dividend payout ratio (DPR) is 56.80%.
In other Aircastle news, insider Joseph Schreiner sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $22.35, for a total transaction of $167,625.00. Following the completion of the transaction, the insider now directly owns 27,708 shares in the company, valued at approximately $619,273.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. BlackRock Group LTD increased its position in Aircastle by 12.3% in the first quarter. BlackRock Group LTD now owns 62,580 shares of the company’s stock valued at $1,393,000 after buying an additional 6,856 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Aircastle by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,515,900 shares of the company’s stock worth $33,714,000 after buying an additional 18,884 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Aircastle by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 60,002 shares of the company’s stock worth $1,334,000 after buying an additional 1,330 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Aircastle by 5.2% in the first quarter. Envestnet Asset Management Inc. now owns 59,740 shares of the company’s stock worth $1,329,000 after buying an additional 2,938 shares during the period. Finally, First Republic Investment Management Inc. increased its stake in shares of Aircastle by 27.1% in the first quarter. First Republic Investment Management Inc. now owns 27,756 shares of the company’s stock worth $617,000 after buying an additional 5,923 shares during the period. Hedge funds and other institutional investors own 65.49% of the company’s stock.
Aircastle Limited is a holding company. The Company, through its subsidiaries, is engaged in investing in aviation assets, including acquiring, leasing, managing and selling utility commercial jet aircraft. The Company operates through leasing, financing, selling and managing commercial flight equipment segment.
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