Citigroup Raises FTAI Aviation (NYSE:FTAI) Price Target to $99.00

FTAI Aviation (NYSE:FTAI) had its price objective lifted by equities research analysts at Citigroup from $81.00 to $99.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price suggests a potential upside of 17.75% from the company’s previous close.

FTAI has been the topic of several other reports. Barclays upped their target price on shares of FTAI Aviation from $62.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Stifel Nicolaus raised their price objective on FTAI Aviation from $59.00 to $66.00 and gave the company a “hold” rating in a research note on Monday, April 29th. StockNews.com raised FTAI Aviation to a “sell” rating in a research report on Thursday, June 6th. Benchmark restated a “buy” rating and set a $100.00 price target on shares of FTAI Aviation in a report on Friday. Finally, JMP Securities lifted their price objective on shares of FTAI Aviation from $66.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, FTAI Aviation has a consensus rating of “Moderate Buy” and an average price target of $77.86.

FTAI Aviation Stock Down 1.0 %

NYSE FTAI traded down $0.86 during trading on Tuesday, hitting $84.08. 36,518 shares of the stock traded hands, compared to its average volume of 904,612. FTAI Aviation has a 12-month low of $27.94 and a 12-month high of $86.31. The firm has a 50-day simple moving average of $75.97 and a 200-day simple moving average of $60.20. The company has a market capitalization of $8.43 billion, a P/E ratio of 38.39 and a beta of 1.95.

FTAI Aviation (NYSE:FTAI) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06). The business had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $302.07 million. FTAI Aviation had a net margin of 21.08% and a return on equity of 188.45%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. As a group, research analysts predict that FTAI Aviation will post 1.93 EPS for the current fiscal year.

Insider Activity

In other news, CEO Joseph P. Jr. Adams acquired 59,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $82.00 per share, with a total value of $4,838,000.00. Following the completion of the purchase, the chief executive officer now directly owns 197,382 shares in the company, valued at $16,185,324. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of FTAI Aviation

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in FTAI Aviation by 6.3% during the first quarter. Vanguard Group Inc. now owns 9,040,503 shares of the financial services provider’s stock valued at $608,426,000 after buying an additional 533,381 shares during the period. FMR LLC lifted its position in shares of FTAI Aviation by 179.7% during the third quarter. FMR LLC now owns 6,216,983 shares of the financial services provider’s stock valued at $221,014,000 after buying an additional 3,994,578 shares during the last quarter. Capital International Investors bought a new stake in shares of FTAI Aviation in the 1st quarter valued at about $274,052,000. CIBC Private Wealth Group LLC lifted its position in FTAI Aviation by 90.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,858,682 shares of the financial services provider’s stock valued at $132,643,000 after acquiring an additional 1,359,302 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in FTAI Aviation by 36.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,736,600 shares of the financial services provider’s stock valued at $97,286,000 after acquiring an additional 736,400 shares in the last quarter. 88.96% of the stock is owned by hedge funds and other institutional investors.

FTAI Aviation Company Profile

FTAI Aviation Ltd. owns and acquires aviation and offshore energy equipment for the transportation of goods and people worldwide. It operates through two segments, Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers.