Fly Leasing Limited (NYSE:FLY)‘s stock had its “buy” rating reaffirmed by equities researchers at Cowen and Company in a note issued to investors on Tuesday. They presently have a $16.00 price target on the transportation company’s stock. Cowen and Company’s price target points to a potential upside of 13.80% from the stock’s previous close.

A number of other research firms have also recently commented on FLY. Zacks Investment Research upgraded Fly Leasing Limited from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub upgraded Fly Leasing Limited from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, ValuEngine cut Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $17.10.

Fly Leasing Limited (NYSE:FLY) opened at 14.06 on Tuesday. The firm’s market cap is $424.25 million. The stock’s 50 day moving average is $13.64 and its 200 day moving average is $13.32. Fly Leasing Limited has a 12 month low of $11.41 and a 12 month high of $14.45.

Fly Leasing Limited (NYSE:FLY) last posted its quarterly earnings data on Thursday, August 10th. The transportation company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $79.21 million during the quarter, compared to analysts’ expectations of $83.17 million. Fly Leasing Limited had a positive return on equity of 11.37% and a negative net margin of 9.68%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. On average, equities analysts forecast that Fly Leasing Limited will post $1.12 earnings per share for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its holdings in Fly Leasing Limited by 6.7% in the 1st quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock valued at $170,000 after buying an additional 817 shares during the period. Russell Investments Group Ltd. grew its holdings in Fly Leasing Limited by 44.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 247,957 shares of the transportation company’s stock valued at $3,335,000 after buying an additional 75,926 shares during the period. Morgan Stanley grew its holdings in Fly Leasing Limited by 9.0% in the 1st quarter. Morgan Stanley now owns 1,167,042 shares of the transportation company’s stock valued at $15,312,000 after buying an additional 96,040 shares during the period. Dalton Greiner Hartman Maher & Co. grew its holdings in Fly Leasing Limited by 9.9% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 159,183 shares of the transportation company’s stock valued at $2,141,000 after buying an additional 14,403 shares during the period. Finally, Donald Smith & CO. Inc. grew its holdings in Fly Leasing Limited by 2.9% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,212,478 shares of the transportation company’s stock valued at $42,148,000 after buying an additional 91,144 shares during the period. Institutional investors own 46.90% of the company’s stock.

Fly Leasing Limited Company Profile

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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