Fly Leasing (NYSE:FLY) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

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.

Fly Leasing (NYSE:FLY) last posted its earnings results on Thursday, August 22nd. The transportation company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.47. The company had revenue of $147.00 million during the quarter, compared to analyst estimates of $140.40 million. Fly Leasing had a return on equity of 18.59% and a net margin of 26.08%. The company’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. As a group, equities research analysts anticipate that Fly Leasing will post 4.02 earnings per share for the current year.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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