Cowen and Company Reaffirms “Hold” Rating for Aircastle Limited (AYR)
Aircastle Limited (NYSE:AYR)‘s stock had its “hold” rating reiterated by analysts at Cowen and Company in a research note issued on Tuesday. They currently have a $26.00 price target on the transportation company’s stock. Cowen and Company’s price objective would suggest a potential upside of 22.18% from the company’s previous close.
Several other research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Aircastle Limited from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday, July 4th. Wells Fargo & Company reiterated a “market perform” rating and issued a $24.00 price objective (down previously from $26.00) on shares of Aircastle Limited in a research note on Thursday, May 25th. Barclays PLC started coverage on shares of Aircastle Limited in a research note on Monday, July 10th. They issued an “equal weight” rating and a $24.00 price objective on the stock. Finally, BidaskClub lowered shares of Aircastle Limited from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Aircastle Limited presently has a consensus rating of “Hold” and an average price target of $24.30.
Shares of Aircastle Limited (NYSE AYR) traded up 1.79% during trading on Tuesday, hitting $21.66. 195,824 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.70 billion, a PE ratio of 13.06 and a beta of 1.83. The stock’s 50 day moving average is $22.56 and its 200 day moving average is $22.70. Aircastle Limited has a 1-year low of $18.26 and a 1-year high of $25.98.
Aircastle Limited (NYSE:AYR) last released its quarterly earnings data on Tuesday, August 8th. The transportation company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.58). The company had revenue of $223.53 million during the quarter, compared to analyst estimates of $206.10 million. Aircastle Limited had a net margin of 15.75% and a return on equity of 7.41%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 EPS. On average, equities research analysts forecast that Aircastle Limited will post $1.92 earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in AYR. Northern Trust Corp increased its stake in shares of Aircastle Limited by 36.0% during the 2nd quarter. Northern Trust Corp now owns 2,021,880 shares of the transportation company’s stock worth $43,976,000 after purchasing an additional 535,106 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Aircastle Limited by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,043,557 shares of the transportation company’s stock worth $109,698,000 after purchasing an additional 413,818 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Aircastle Limited by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,629,041 shares of the transportation company’s stock worth $135,829,000 after purchasing an additional 176,874 shares during the last quarter. Dean Capital Management acquired a new position in shares of Aircastle Limited during the 2nd quarter worth $3,578,000. Finally, James Investment Research Inc. increased its stake in shares of Aircastle Limited by 75.5% during the 2nd quarter. James Investment Research Inc. now owns 178,234 shares of the transportation company’s stock worth $3,876,000 after purchasing an additional 76,666 shares during the last quarter. Institutional investors own 62.04% of the company’s stock.
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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