Fly Leasing (NYSE:FLY) Stock Rating Upgraded by ValuEngine
Separately, Zacks Investment Research cut Fly Leasing from a “buy” rating to a “hold” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.17.
Shares of Fly Leasing stock traded up $1.58 during trading on Thursday, hitting $19.85. 847,600 shares of the company were exchanged, compared to its average volume of 156,875. The firm has a market capitalization of $514.27 million, a P/E ratio of 6.49 and a beta of 0.92. Fly Leasing has a 1-year low of $10.42 and a 1-year high of $21.24. The firm’s fifty day moving average price is $17.17 and its 200 day moving average price is $15.09. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.10 and a quick ratio of 1.10.
Several large investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its holdings in shares of Fly Leasing by 0.6% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,687,801 shares of the transportation company’s stock valued at $37,199,000 after purchasing an additional 17,229 shares in the last quarter. Morgan Stanley lifted its stake in Fly Leasing by 17.5% in the 2nd quarter. Morgan Stanley now owns 2,085,584 shares of the transportation company’s stock valued at $36,310,000 after acquiring an additional 309,922 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Fly Leasing by 65.1% in the 2nd quarter. Acadian Asset Management LLC now owns 469,605 shares of the transportation company’s stock valued at $8,175,000 after acquiring an additional 185,181 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Fly Leasing by 139.9% in the 2nd quarter. Renaissance Technologies LLC now owns 286,200 shares of the transportation company’s stock valued at $4,983,000 after acquiring an additional 166,900 shares in the last quarter. Finally, Zazove Associates LLC lifted its stake in Fly Leasing by 178.1% in the 2nd quarter. Zazove Associates LLC now owns 281,067 shares of the transportation company’s stock valued at $1,826,000 after acquiring an additional 180,001 shares in the last quarter. Institutional investors and hedge funds own 42.06% of the company’s stock.
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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