Fly Leasing Limited (NYSE:FLY) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

FLY has been the topic of several other research reports. ValuEngine raised shares of Fly Leasing Limited from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada reissued a “buy” rating on shares of Fly Leasing Limited in a research report on Friday, April 21st. Finally, Zacks Investment Research raised shares of Fly Leasing Limited from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $17.10.

Shares of Fly Leasing Limited (NYSE:FLY) traded down 1.47% during trading on Thursday, hitting $13.45. 79,172 shares of the company were exchanged. The firm’s market capitalization is $432.50 million. The firm’s 50-day moving average price is $13.75 and its 200 day moving average price is $13.39. 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 announced its quarterly earnings results on Thursday, August 10th. The transportation company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $79.21 million for the quarter, compared to analysts’ expectations of $83.17 million. Fly Leasing Limited had a negative net margin of 9.21% and a positive return on equity of 11.96%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. On average, equities research analysts expect that Fly Leasing Limited will post $1.31 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dalton Greiner Hartman Maher & Co. boosted its position in Fly Leasing Limited by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 144,780 shares of the transportation company’s stock worth $1,900,000 after buying an additional 566 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Fly Leasing Limited by 6.7% in the first quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock worth $170,000 after buying an additional 817 shares during the last quarter. Renaissance Group LLC boosted its position in Fly Leasing Limited by 3.5% in the first quarter. Renaissance Group LLC now owns 27,348 shares of the transportation company’s stock worth $359,000 after buying an additional 930 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Fly Leasing Limited by 4.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,654 shares of the transportation company’s stock worth $271,000 after buying an additional 966 shares during the last quarter. Finally, Atlantic Trust Group LLC boosted its position in Fly Leasing Limited by 13.9% in the first quarter. Atlantic Trust Group LLC now owns 23,350 shares of the transportation company’s stock worth $306,000 after buying an additional 2,850 shares during the last quarter. 51.31% of the stock is currently owned by institutional investors.

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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