Aircastle Limited (NYSE:AYR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

According to Zacks, “AIRCASTLE LTD are a global company that acquires and leases high utility commercial jet aircraft to passenger and cargo airlines throughout the world. High utility aircraft are generally modern, operationally efficient jets with a large operator base and long useful lives. They also make investments in other aviation assets, including debt securities secured by commercial jet aircraft. “

AYR has been the subject of several other reports. Barclays PLC initiated coverage on shares of Aircastle Limited in a research report on Monday, July 10th. They set an “equal weight” rating and a $24.00 price objective for the company. Wells Fargo & Company restated a “market perform” rating and set a $24.00 price objective (down from $26.00) on shares of Aircastle Limited in a research report on Thursday, May 25th. FBR & Co cut their price objective on shares of Aircastle Limited from $27.50 to $26.00 and set a “market perform” rating for the company in a research report on Thursday, May 4th. Royal Bank Of Canada restated a “hold” rating and set a $25.00 price objective on shares of Aircastle Limited in a research report on Friday, April 21st. Finally, Cowen and Company restated a “market perform” rating and set a $26.00 price objective (up from $25.00) on shares of Aircastle Limited in a research report on Thursday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Aircastle Limited presently has an average rating of “Hold” and a consensus target price of $24.30.

Shares of Aircastle Limited (NYSE AYR) traded up 1.57% during trading on Monday, reaching $22.59. 152,362 shares of the company traded hands. Aircastle Limited has a 52 week low of $18.26 and a 52 week high of $25.98. The firm has a 50 day moving average of $22.51 and a 200 day moving average of $22.90. The stock has a market capitalization of $1.78 billion, a PE ratio of 13.62 and a beta of 1.81.

Aircastle Limited (NYSE:AYR) last released its quarterly earnings data on Tuesday, August 8th. The transportation company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.58. Aircastle Limited had a return on equity of 7.41% and a net margin of 15.75%. The firm had revenue of $223.53 million for the quarter, compared to analyst estimates of $206.10 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. Aircastle Limited’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities analysts predict that Aircastle Limited will post $2.03 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Aircastle Limited by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,629,041 shares of the transportation company’s stock worth $135,829,000 after buying an additional 176,874 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Aircastle Limited by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,043,557 shares of the transportation company’s stock worth $109,698,000 after buying an additional 413,818 shares during the period. LSV Asset Management boosted its position in shares of Aircastle Limited by 1.1% in the first quarter. LSV Asset Management now owns 3,909,745 shares of the transportation company’s stock worth $94,342,000 after buying an additional 43,254 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Aircastle Limited by 1.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,831,184 shares of the transportation company’s stock worth $56,227,000 after buying an additional 33,451 shares during the period. Finally, River Road Asset Management LLC boosted its position in shares of Aircastle Limited by 16.0% in the third quarter. River Road Asset Management LLC now owns 2,115,776 shares of the transportation company’s stock worth $42,019,000 after buying an additional 291,742 shares during the period. Hedge funds and other institutional investors own 62.76% of the company’s stock.

About Aircastle Limited

Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.

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Analyst Recommendations for Aircastle Limited (NYSE:AYR)

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