Investment analysts at Goldman Sachs Group started coverage on shares of Fly Leasing (NYSE:FLY) in a report issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $20.00 price target on the transportation company’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 37.17% from the stock’s current price.

Several other research analysts have also recently issued reports on FLY. Zacks Investment Research raised shares of Fly Leasing from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, January 29th. ValuEngine upgraded shares of Fly Leasing from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $19.88.

Shares of NYSE:FLY opened at $14.58 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 4.27. The firm has a market cap of $421.46 million, a PE ratio of 4.76 and a beta of 1.07. Fly Leasing has a 1-year low of $10.42 and a 1-year high of $15.32.

Fly Leasing (NYSE:FLY) last announced its quarterly earnings results on Thursday, March 7th. The transportation company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.37. Fly Leasing had a net margin of 20.49% and a return on equity of 14.43%. The company had revenue of $113.80 million for the quarter, compared to analysts’ expectations of $110.05 million. During the same quarter in the previous year, the business posted $1.09 EPS. Fly Leasing’s revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts predict that Fly Leasing will post 3.15 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of FLY. PEAK6 Investments LLC bought a new position in shares of Fly Leasing during the fourth quarter valued at $111,000. Panagora Asset Management Inc. bought a new stake in Fly Leasing in the 3rd quarter worth about $114,000. Dynamic Technology Lab Private Ltd bought a new stake in Fly Leasing in the 3rd quarter worth about $218,000. Sontag Advisory LLC purchased a new position in Fly Leasing in the 4th quarter worth about $466,000. Finally, Monarch Partners Asset Management LLC raised its position in Fly Leasing by 18.8% in the 4th quarter. Monarch Partners Asset Management LLC now owns 85,440 shares of the transportation company’s stock worth $902,000 after buying an additional 13,550 shares during the last quarter. 48.01% of the stock is owned by institutional investors and hedge funds.

Fly Leasing Company Profile

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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