Aircastle Limited (AYR) Cut to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Aircastle Limited (NYSE:AYR) from a hold rating to a sell rating in a research note released on Monday morning.
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. “
Other research analysts have also recently issued reports about the company. Barclays PLC initiated coverage on Aircastle Limited in a research note on Monday, July 10th. They set an equal weight rating and a $24.00 target price for the company. Royal Bank Of Canada reissued a hold rating and set a $25.00 target price on shares of Aircastle Limited in a research note on Friday, April 21st. Cowen and Company reissued a market perform rating and set a $26.00 target price (up from $25.00) on shares of Aircastle Limited in a research note on Thursday, August 10th. Wells Fargo & Company reissued a market perform rating and set a $24.00 target price (down from $26.00) on shares of Aircastle Limited in a research note on Thursday, May 25th. Finally, FBR & Co lowered their target price on Aircastle Limited from $27.50 to $26.00 and set a market perform rating for the company in a research note on Thursday, May 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $24.30.
Aircastle Limited (NYSE:AYR) opened at 22.25 on Monday. The company has a market cap of $1.75 billion, a P/E ratio of 13.42 and a beta of 1.81. Aircastle Limited has a 52-week low of $18.26 and a 52-week high of $25.98. The stock’s 50 day moving average price is $22.59 and its 200-day moving average price is $22.90.
Aircastle Limited (NYSE:AYR) last released its earnings results on Tuesday, August 8th. The transportation company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.58. Aircastle Limited had a return on equity of 7.41% and a net margin of 15.75%. The company had revenue of $223.53 million for the quarter, compared to analyst estimates of $206.10 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities analysts predict that Aircastle Limited will post $1.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.04 annualized dividend and a dividend yield of 4.67%. Aircastle Limited’s dividend payout ratio is currently 62.65%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. boosted its position in Aircastle Limited by 0.7% in the second quarter. Suntrust Banks Inc. now owns 9,711 shares of the transportation company’s stock valued at $210,000 after buying an additional 67 shares in the last quarter. Clearbridge Investments LLC boosted its position in Aircastle Limited by 1.4% in the first quarter. Clearbridge Investments LLC now owns 13,616 shares of the transportation company’s stock valued at $329,000 after buying an additional 189 shares in the last quarter. AMG Funds LLC boosted its position in Aircastle Limited by 0.6% in the second quarter. AMG Funds LLC now owns 73,302 shares of the transportation company’s stock valued at $1,594,000 after buying an additional 470 shares in the last quarter. Renaissance Group LLC boosted its position in Aircastle Limited by 3.4% in the first quarter. Renaissance Group LLC now owns 16,847 shares of the transportation company’s stock valued at $407,000 after buying an additional 552 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Aircastle Limited by 2.6% in the first quarter. Blair William & Co. IL now owns 34,002 shares of the transportation company’s stock valued at $820,000 after buying an additional 854 shares in the last quarter. 62.76% of the stock is owned by institutional investors and hedge funds.
Aircastle Limited Company Profile
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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