Ryanair Holdings PLC (RYAAY) Upgraded by HSBC Holdings plc to Buy
Ryanair Holdings PLC (NASDAQ:RYAAY) was upgraded by analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, July 25th, Marketbeat.com reports.
Several other research analysts have also recently commented on RYAAY. UBS AG cut shares of Ryanair Holdings PLC from a “buy” rating to a “neutral” rating in a report on Friday, June 2nd. ValuEngine raised shares of Ryanair Holdings PLC from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) raised shares of Ryanair Holdings PLC from a “neutral” rating to a “buy” rating and raised their target price for the stock from $67.56 to $109.00 in a report on Thursday, June 15th. Citigroup Inc. lowered shares of Ryanair Holdings PLC from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 31st. Finally, Sanford C. Bernstein started coverage on shares of Ryanair Holdings PLC in a research report on Monday, June 26th. They set an “underperform” rating and a $83.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $100.33.
Ryanair Holdings PLC (NASDAQ RYAAY) traded down 1.25% during mid-day trading on Tuesday, reaching $115.10. The company’s stock had a trading volume of 203,726 shares. Ryanair Holdings PLC has a 52 week low of $67.56 and a 52 week high of $122.68.
Ryanair Holdings PLC (NASDAQ:RYAAY) last announced its earnings results on Monday, July 24th. The transportation company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.30. Ryanair Holdings PLC had a net margin of 21.44% and a return on equity of 34.02%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.02 billion. On average, equities analysts expect that Ryanair Holdings PLC will post $7.58 EPS for the current fiscal year.
Ryanair Holdings PLC announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 30th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the transportation company to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds have recently modified their holdings of RYAAY. Quantbot Technologies LP bought a new stake in shares of Ryanair Holdings PLC during the first quarter worth $106,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Ryanair Holdings PLC during the second quarter worth $108,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Ryanair Holdings PLC during the second quarter worth $112,000. FNY Partners Fund LP bought a new stake in shares of Ryanair Holdings PLC during the first quarter worth $156,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Ryanair Holdings PLC by 5.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,941 shares of the transportation company’s stock worth $160,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 38.72% of the company’s stock.
About Ryanair Holdings PLC
Ryanair Holdings plc (Ryanair Holdings) is a holding company for Ryanair Limited (Ryanair). Ryanair operates an ultra-low fare, scheduled-passenger airline serving short-haul, point-to-point routes between Ireland, the United Kingdom, Continental Europe, Morocco and Israel. Ryanair provides various ancillary services and engages in other activities connected with its core air passenger service, including non-flight scheduled services, Internet-related services, and the in-flight sale of beverages, food and merchandise.
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