Royal Bank of Canada Reiterates “Hold” Rating for Aircastle (AYR)

Aircastle (NYSE:AYR)‘s stock had its “hold” rating restated by investment analysts at Royal Bank of Canada in a research note issued to investors on Wednesday.

A number of other equities research analysts also recently issued reports on AYR. ValuEngine downgraded shares of Aircastle from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 6th. Stephens upgraded shares of Aircastle from an “underweight” rating to an “equal” rating and set a $24.00 price target for the company in a research report on Wednesday. They noted that the move was a valuation call. Cowen reiterated a “market perform” rating and set a $24.00 price target (down from $26.00) on shares of Aircastle in a research report on Tuesday. Citigroup started coverage on shares of Aircastle in a research report on Friday, December 8th. They set a “neutral” rating and a $25.00 price target for the company. Finally, Credit Suisse Group lifted their price target on shares of Aircastle from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $24.80.

Shares of Aircastle (NYSE AYR) traded down $0.30 on Wednesday, reaching $20.40. The company’s stock had a trading volume of 696,855 shares, compared to its average volume of 261,776. Aircastle has a 12 month low of $19.75 and a 12 month high of $25.67. The stock has a market cap of $1,610.00, a price-to-earnings ratio of 10.00, a PEG ratio of 0.91 and a beta of 1.77.

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

Several institutional investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC raised its position in shares of Aircastle by 8.5% during the 4th quarter. TIAA CREF Investment Management LLC now owns 137,353 shares of the transportation company’s stock worth $3,213,000 after purchasing an additional 10,793 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Aircastle by 16.7% during the 4th quarter. Two Sigma Investments LP now owns 146,296 shares of the transportation company’s stock worth $3,422,000 after purchasing an additional 20,939 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Aircastle by 5.5% during the 4th quarter. Two Sigma Advisers LP now owns 130,300 shares of the transportation company’s stock worth $3,048,000 after purchasing an additional 6,800 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Aircastle by 24.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 131,529 shares of the transportation company’s stock worth $3,076,000 after purchasing an additional 26,170 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Aircastle by 28.6% during the 4th quarter. Deutsche Bank AG now owns 247,745 shares of the transportation company’s stock worth $5,793,000 after purchasing an additional 55,029 shares during the last quarter. Hedge funds and other institutional investors own 61.08% of the company’s stock.

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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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