Shares of Aircastle Limited (NYSE:AYR) have been given an average rating of “Hold” by the eight brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.20.
Several analysts recently issued reports on AYR shares. TheStreet raised shares of Aircastle from a “c+” rating to a “b-” rating in a report on Thursday, January 31st. Zacks Investment Research upgraded shares of Aircastle from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Wednesday, March 20th. ValuEngine upgraded shares of Aircastle from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Goldman Sachs Group started coverage on shares of Aircastle in a research note on Monday, April 8th. They set a “sell” rating and a $18.00 target price for the company. Finally, Bank of America cut shares of Aircastle from a “neutral” rating to an “underperform” rating and cut their target price for the company from $23.00 to $20.00 in a research note on Thursday, February 14th.
In related news, insider Michael Kriedberg sold 35,000 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $20.45, for a total transaction of $715,750.00. Following the completion of the transaction, the insider now directly owns 180,968 shares in the company, valued at approximately $3,700,795.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in AYR. Bank of New York Mellon Corp raised its stake in shares of Aircastle by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 236,474 shares of the transportation company’s stock valued at $5,181,000 after buying an additional 11,665 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Aircastle in the 3rd quarter valued at $1,937,000. Teachers Advisors LLC raised its stake in shares of Aircastle by 3.2% in the 3rd quarter. Teachers Advisors LLC now owns 100,239 shares of the transportation company’s stock valued at $2,196,000 after buying an additional 3,068 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Aircastle by 1.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 253,523 shares of the transportation company’s stock valued at $5,555,000 after buying an additional 3,222 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Aircastle by 13.8% in the 3rd quarter. Morgan Stanley now owns 766,498 shares of the transportation company’s stock valued at $16,794,000 after buying an additional 92,699 shares in the last quarter. Institutional investors own 56.39% of the company’s stock.
Shares of NYSE AYR traded down $0.20 during trading hours on Thursday, hitting $19.63. 245,573 shares of the stock were exchanged, compared to its average volume of 316,840. The company has a market cap of $1.46 billion, a P/E ratio of 6.19 and a beta of 1.68. Aircastle has a one year low of $15.75 and a one year high of $22.27.
Aircastle (NYSE:AYR) last posted its quarterly earnings data on Thursday, May 2nd. The transportation company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.07. The business had revenue of $213.93 million during the quarter, compared to the consensus estimate of $202.84 million. Aircastle had a net margin of 24.90% and a return on equity of 11.31%. Aircastle’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. As a group, sell-side analysts anticipate that Aircastle will post 2.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.11%. The ex-dividend date is Thursday, May 30th. Aircastle’s payout ratio is currently 37.85%.
Aircastle Company Profile
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2018, its aircraft portfolio comprised 261 aircraft leased to 81 lessees located in 44 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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