Compass Point reaffirmed their buy rating on shares of Fly Leasing Limited (NYSE:FLY) in a research report sent to investors on Tuesday. Compass Point currently has a $19.00 price target on the transportation company’s stock, up from their prior price target of $17.00.

Several other equities research analysts have also recently weighed in on FLY. Cowen and Company reaffirmed a buy rating and issued a $16.00 price target on shares of Fly Leasing Limited in a research note on Tuesday, September 19th. ValuEngine downgraded Fly Leasing Limited from a strong-buy rating to a buy rating in a report on Friday, September 1st. Zacks Investment Research lowered Fly Leasing Limited from a buy rating to a hold rating in a research report on Wednesday, August 16th. Finally, BidaskClub lowered Fly Leasing Limited from a buy rating to a hold rating in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Fly Leasing Limited currently has an average rating of Buy and a consensus target price of $17.60.

Fly Leasing Limited (NYSE FLY) traded up 0.70% during mid-day trading on Tuesday, reaching $14.40. 80,758 shares of the company traded hands. The stock’s market capitalization is $434.51 million. Fly Leasing Limited has a 12-month low of $11.82 and a 12-month high of $14.65. The company’s 50-day moving average is $13.75 and its 200-day moving average is $13.36.

Fly Leasing Limited (NYSE:FLY) last announced its earnings results on Thursday, August 10th. The transportation company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. The firm had revenue of $79.21 million during the quarter, compared to analyst estimates 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 business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. Equities analysts predict that Fly Leasing Limited will post $1.12 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of FLY. Morgan Stanley grew its stake in shares of Fly Leasing Limited by 9.0% in the 1st quarter. Morgan Stanley now owns 1,167,042 shares of the transportation company’s stock worth $15,312,000 after buying an additional 96,040 shares during the last quarter. Uniplan Investment Counsel Inc. increased its position in Fly Leasing Limited by 27.7% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 512,759 shares of the transportation company’s stock valued at $6,896,000 after buying an additional 111,372 shares in the last quarter. Russell Investments Group Ltd. increased its position in Fly Leasing Limited by 44.1% during 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 in the last quarter. Goldman Sachs Group Inc. increased its position in Fly Leasing Limited by 630.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 194,005 shares of the transportation company’s stock valued at $2,609,000 after buying an additional 167,430 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC increased its position in Fly Leasing Limited by 31.2% during the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 181,595 shares of the transportation company’s stock valued at $2,442,000 after buying an additional 43,230 shares in the last quarter. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

About Fly Leasing Limited

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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