Aircastle’s (AYR) “Market Perform” Rating Reiterated at Cowen

Aircastle (NYSE:AYR)‘s stock had its “market perform” rating reissued by investment analysts at Cowen in a report issued on Tuesday, Marketbeat reports. They presently have a $24.00 price target on the transportation company’s stock, down from their prior price target of $26.00. Cowen’s price target points to a potential upside of 15.94% from the stock’s current price.

AYR has been the topic of a number of other research reports. Credit Suisse Group increased their price objective on shares of Aircastle from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. ValuEngine cut shares of Aircastle from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 6th. Finally, Citigroup initiated coverage on shares of Aircastle in a research report on Friday, December 8th. They issued a “neutral” rating and a $25.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Aircastle currently has an average rating of “Hold” and an average price target of $24.89.

Aircastle (NYSE:AYR) traded down $1.03 during mid-day trading on Tuesday, hitting $20.70. 497,787 shares of the stock were exchanged, compared to its average volume of 236,476. The company has a market cap of $1,630.00, a PE ratio of 10.15, a PEG ratio of 0.90 and a beta of 1.77. Aircastle has a one year low of $20.64 and a one year high of $25.98.

Aircastle (NYSE:AYR) last released its quarterly earnings data on Tuesday, February 13th. The transportation company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.14. The company had revenue of $177.40 million for the quarter, compared to analysts’ expectations of $184.09 million. Aircastle had a net margin of 19.48% and a return on equity of 9.18%. The business’s revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. research analysts anticipate that Aircastle will post 1.75 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in AYR. Baker Ellis Asset Management LLC bought a new position in Aircastle in the 4th quarter valued at about $106,000. Zions Bancorporation bought a new position in shares of Aircastle during the 3rd quarter worth approximately $111,000. Kayne Anderson Capital Advisors LP bought a new position in shares of Aircastle during the 3rd quarter worth approximately $207,000. Suntrust Banks Inc. lifted its position in shares of Aircastle by 0.7% during the 2nd quarter. Suntrust Banks Inc. now owns 9,711 shares of the transportation company’s stock worth $210,000 after buying an additional 67 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Aircastle by 98.5% during the 3rd quarter. SG Americas Securities LLC now owns 11,026 shares of the transportation company’s stock worth $246,000 after buying an additional 5,471 shares in the last quarter. 61.08% of the stock is currently owned by institutional investors and hedge funds.

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About Aircastle

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.

Analyst Recommendations for Aircastle (NYSE:AYR)

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