Fly Leasing Ltd (FLY) Given Consensus Recommendation of “Buy” by Analysts
Fly Leasing Ltd (NYSE:FLY) has received an average rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.25.
Several equities analysts have recently weighed in on the company. ValuEngine raised Fly Leasing from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. BidaskClub downgraded Fly Leasing from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded Fly Leasing from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th.
Several institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in Fly Leasing by 6.7% in the first quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock valued at $170,000 after buying an additional 817 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Fly Leasing by 31.5% in the first quarter. Parametric Portfolio Associates LLC now owns 17,394 shares of the transportation company’s stock valued at $228,000 after buying an additional 4,163 shares in the last quarter. Trexquant Investment LP bought a new position in Fly Leasing during the first quarter valued at $234,000. Raymond James Financial Services Advisors Inc. increased its position in Fly Leasing by 4.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,654 shares of the transportation company’s stock valued at $271,000 after buying an additional 966 shares in the last quarter. Finally, Atlantic Trust Group LLC increased its position in Fly Leasing by 13.9% in the first quarter. Atlantic Trust Group LLC now owns 23,350 shares of the transportation company’s stock valued at $306,000 after buying an additional 2,850 shares in the last quarter. 47.26% of the stock is currently owned by hedge funds and other institutional investors.
Fly Leasing (FLY) traded up 1.30% during midday trading on Tuesday, reaching $13.29. 78,587 shares of the company traded hands. Fly Leasing has a one year low of $11.41 and a one year high of $14.45. The company’s market capitalization is $401.01 million. The stock’s 50 day moving average is $13.67 and its 200 day moving average is $13.34.
Fly Leasing (NYSE:FLY) last released its quarterly earnings data on Thursday, August 10th. The transportation company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The business had revenue of $79.21 million for the quarter, compared to the consensus estimate of $83.17 million. Fly Leasing had a return on equity of 1.97% and a net margin of 3.61%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. On average, equities analysts anticipate that Fly Leasing will post $1.12 earnings per share for the current year.
Fly Leasing Company Profile
Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.
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