Aircastle Limited (AYR) Rating Reiterated by Cowen and Company
Aircastle Limited (NYSE:AYR)‘s stock had its “market perform” rating reissued by Cowen and Company in a report released on Thursday. They presently have a $26.00 price objective on the transportation company’s stock, up from their prior price objective of $25.00. Cowen and Company’s price objective suggests a potential upside of 12.26% from the stock’s current price.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised Aircastle Limited from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, July 4th. Barclays PLC initiated coverage on Aircastle Limited in a report on Monday, July 10th. They issued an “equal weight” rating and a $24.00 target price for the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 target price on shares of Aircastle Limited in a report on Friday, April 21st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $24.00 target price (down from $26.00) on shares of Aircastle Limited in a report on Thursday, May 25th. Finally, FBR & Co reduced their target price on Aircastle Limited from $27.50 to $26.00 and set a “market perform” rating for the company in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Aircastle Limited currently has an average rating of “Hold” and a consensus price target of $24.30.
Aircastle Limited (NYSE AYR) opened at 23.16 on Thursday. The stock’s 50 day moving average price is $22.44 and its 200 day moving average price is $22.90. Aircastle Limited has a 52 week low of $18.26 and a 52 week high of $25.98. The company has a market capitalization of $1.82 billion, a P/E ratio of 11.58 and a beta of 1.81.
Aircastle Limited (NYSE:AYR) last released its earnings results on Tuesday, August 8th. The transportation company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.58. The business had revenue of $223.53 million during the quarter, compared to the consensus estimate of $206.10 million. Aircastle Limited had a net margin of 15.75% and a return on equity of 7.42%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. Analysts anticipate that Aircastle Limited will post $2.34 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Aircastle Limited during the second quarter valued at $121,000. Russell Investments Group Ltd. purchased a new position in shares of Aircastle Limited during the fourth quarter valued at $172,000. 361 Capital LLC purchased a new position in shares of Aircastle Limited during the first quarter valued at $200,000. Principal Financial Group Inc. purchased a new position in shares of Aircastle Limited during the first quarter valued at $203,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Aircastle Limited by 203.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,362 shares of the transportation company’s stock valued at $204,000 after buying an additional 6,279 shares during the period. 62.84% of the stock is owned by institutional investors and hedge funds.
About Aircastle Limited
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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