AeroCentury (ACY) Rating Increased to Hold at Zacks Investment Research

AeroCentury (NYSEAMERICAN:ACY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “AeroCentury Corp. was formed to acquire JetFleet Aircraft, L.P. and JetFleet Aircraft II, L.P., in a statutory merger. The company is an operating lessor and finance company which specializes in leasing used turboprop aircraft and engines. The company’s aircraft and engines are on lease to regional airlines and commercial users in the U.S., Canada, the U.K., South America and Europe. (PRESS RELEASE) “

ACY has been the subject of a number of other reports. ValuEngine lowered AeroCentury from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. TheStreet upgraded AeroCentury from a “c” rating to a “b-” rating in a research report on Monday, December 4th.

AeroCentury (ACY) traded up $0.35 during mid-day trading on Monday, hitting $14.50. The stock had a trading volume of 4,589 shares, compared to its average volume of 2,448. The stock has a market capitalization of $19.63, a price-to-earnings ratio of 15.93 and a beta of -0.76. AeroCentury has a 1-year low of $9.00 and a 1-year high of $16.10.

AeroCentury (NYSEAMERICAN:ACY) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.29). AeroCentury had a net margin of 4.61% and a return on equity of 3.75%.

An institutional investor recently raised its position in AeroCentury stock. Perritt Capital Management Inc. increased its holdings in AeroCentury Corp. (NYSEAMERICAN:ACY) by 33.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 70,954 shares of the company’s stock after acquiring an additional 17,877 shares during the period. Perritt Capital Management Inc. owned approximately 5.00% of AeroCentury worth $1,081,000 at the end of the most recent quarter.

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About AeroCentury

AeroCentury Corp. acquires used regional aircraft and aircraft engines for lease to regional carriers all over the world. The Company’s segment is leasing of regional aircraft to foreign and domestic regional airlines. The business of the Company is managed by JetFleet Management Corp. (JMC), an integrated aircraft management, marketing and financing business.

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