Shares of Fly Leasing Ltd (NYSE:FLY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.73 and traded as high as $20.08. Fly Leasing shares last traded at $19.79, with a volume of 976 shares traded.

A number of research firms have recently commented on FLY. Compass Point set a $23.00 target price on shares of Fly Leasing and gave the stock a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised shares of Fly Leasing from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $23.00 to $27.50 in a research note on Monday, October 21st. Zacks Investment Research cut shares of Fly Leasing from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, ValuEngine cut shares of Fly Leasing from a “sell” rating to a “strong sell” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.13.

The company has a market cap of $610.86 million, a PE ratio of 6.49 and a beta of 0.78. The company has a debt-to-equity ratio of 3.17, a quick ratio of 1.51 and a current ratio of 1.51. The firm’s 50 day moving average is $20.03 and its 200-day moving average is $18.73.

Fly Leasing (NYSE:FLY) last announced its quarterly earnings data on Friday, November 8th. The transportation company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.02. Fly Leasing had a net margin of 33.46% and a return on equity of 26.68%. The company had revenue of $139.00 million during the quarter, compared to analysts’ expectations of $148.20 million. During the same quarter in the prior year, the company earned $0.75 EPS. Fly Leasing’s revenue was up 32.9% compared to the same quarter last year. On average, analysts predict that Fly Leasing Ltd will post 6.36 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake in Fly Leasing by 68.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 116,694 shares of the transportation company’s stock valued at $2,378,000 after acquiring an additional 47,520 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Fly Leasing by 85.4% in the 3rd quarter. State of Tennessee Treasury Department now owns 28,211 shares of the transportation company’s stock valued at $579,000 after purchasing an additional 12,991 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Fly Leasing by 563.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 84,893 shares of the transportation company’s stock valued at $1,476,000 after purchasing an additional 72,105 shares during the last quarter. Millennium Management LLC boosted its holdings in Fly Leasing by 523.7% in the 3rd quarter. Millennium Management LLC now owns 742,335 shares of the transportation company’s stock valued at $15,225,000 after purchasing an additional 623,322 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in Fly Leasing in the 3rd quarter valued at about $485,000. 43.51% of the stock is owned by institutional investors.

Fly Leasing Company Profile (NYSE:FLY)

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. As of December 31, 2018, it had a portfolio of 101 aircraft, including 90 narrow-body passenger aircraft and 11 wide-body passenger aircraft, as well as 7 engines.

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