Fly Leasing Limited (NYSE:FLY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Fly Leasing Limited, formerly known as Babcock & Brown Air Limited, is engaged in acquiring and leasing modern, high-demand and fuel-efficient commercial jet aircraft under long-term contracts to a diverse group of airlines throughout the world. The Company’s strategy is to effectively manage its fleet and grow its portfolio through accretive acquisitions of aircraft. FLY Leasing is managed and serviced by BBAM L.P., an aircraft leasing company. BBAM acts as manager of FLY Leasing and servicer of the aircraft portfolio under multi-year management and servicing agreements. In addition to arranging for the leasing of the fleet, BBAM assists in the acquiring and disposing of aircraft, marketeering aircraft for lease and release, collecting rents and other payments from the lessees of aircraft, monitoring maintenance, insurance and other obligations under leases, and enforcing FLY Leasing’s rights against lessees. BBAM is an independent company. FLY Leasing Limited is headquartered in Dublin, Ireland. “

A number of other research analysts have also recently commented on FLY. BidaskClub upgraded shares of Fly Leasing Limited from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. ValuEngine cut shares of Fly Leasing Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Cowen and Company restated a “buy” rating and issued a $16.00 target price on shares of Fly Leasing Limited in a report on Tuesday, September 19th. Finally, Compass Point restated a “buy” rating and issued a $19.00 target price (up previously from $17.00) on shares of Fly Leasing Limited in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $17.60.

Fly Leasing Limited (FLY) traded down $0.09 during mid-day trading on Monday, hitting $13.72. 76,800 shares of the company traded hands, compared to its average volume of 135,482. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $414.00, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Fly Leasing Limited has a one year low of $11.91 and a one year high of $14.65.

Fly Leasing Limited (NYSE:FLY) last issued its quarterly earnings results on Thursday, August 10th. The transportation company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Fly Leasing Limited had a negative net margin of 19.77% and a positive return on equity of 6.72%. The business had revenue of $79.21 million for the quarter, compared to analysts’ expectations of $83.17 million. During the same period last year, the business earned $0.45 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. equities analysts anticipate that Fly Leasing Limited will post 0.74 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in FLY. JPMorgan Chase & Co. purchased a new position in Fly Leasing Limited during the third quarter valued at $102,000. Ameriprise Financial Inc. lifted its position in Fly Leasing Limited by 6.7% during 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 during the period. Parametric Portfolio Associates LLC lifted its position in Fly Leasing Limited by 31.5% during 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 during the period. Goldman Sachs Group Inc. purchased a new position in Fly Leasing Limited during the first quarter valued at $349,000. Finally, Citadel Advisors LLC lifted its position in Fly Leasing Limited by 191.1% during the second quarter. Citadel Advisors LLC now owns 29,401 shares of the transportation company’s stock valued at $395,000 after buying an additional 19,301 shares during the period. 45.88% of the stock is owned by institutional investors and hedge funds.

Fly Leasing Limited 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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