Aircastle Limited (AYR) Lowered to “Buy” at ValuEngine
ValuEngine cut shares of Aircastle Limited (NYSE:AYR) from a strong-buy rating to a buy rating in a research report sent to investors on Monday morning.
A number of other research analysts have also recently commented on AYR. Credit Suisse Group increased their target price on Aircastle Limited from $25.00 to $26.00 and gave the company a neutral rating in a research note on Friday. 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 price objective on the stock. Cowen and Company reaffirmed a hold rating and set a $26.00 price objective on shares of Aircastle Limited in a research note on Tuesday, September 12th. BidaskClub cut Aircastle Limited from a sell rating to a strong sell rating in a research note on Monday, August 14th. Finally, Zacks Investment Research cut Aircastle Limited from a hold rating to a sell rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, eight 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 a consensus target price of $24.90.
Aircastle Limited (NYSE:AYR) traded down $0.26 during trading on Monday, hitting $23.55. 186,319 shares of the stock traded hands, compared to its average volume of 253,278. The company has a market capitalization of $1,860.00, a PE ratio of 11.17 and a beta of 1.85. Aircastle Limited has a 52-week low of $20.28 and a 52-week high of $25.98.
Aircastle Limited (NYSE:AYR) last released its quarterly earnings results on Thursday, November 2nd. The transportation company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.15. The firm had revenue of $191.41 million for the quarter, compared to analysts’ expectations of $184.02 million. Aircastle Limited had a net margin of 19.48% and a return on equity of 9.18%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, November 29th. This is a positive change from Aircastle Limited’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 4.76%. Aircastle Limited’s dividend payout ratio (DPR) is 50.98%.
Several hedge funds have recently added to or reduced their stakes in AYR. Northern Trust Corp lifted its holdings in shares of Aircastle Limited by 36.0% during the second quarter. Northern Trust Corp now owns 2,021,880 shares of the transportation company’s stock valued at $43,976,000 after purchasing an additional 535,106 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Aircastle Limited by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,043,557 shares of the transportation company’s stock valued at $109,698,000 after acquiring an additional 413,818 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Aircastle Limited by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,629,041 shares of the transportation company’s stock valued at $135,829,000 after acquiring an additional 176,874 shares in the last quarter. Dean Capital Management bought a new stake in shares of Aircastle Limited during the second quarter valued at approximately $3,578,000. Finally, James Investment Research Inc. increased its position in shares of Aircastle Limited by 75.5% during the second quarter. James Investment Research Inc. now owns 178,234 shares of the transportation company’s stock valued at $3,876,000 after acquiring an additional 76,666 shares in the last quarter. Hedge funds and other institutional investors own 61.51% 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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