Aircastle (NYSE:AYR) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They currently have a $26.00 target price on the transportation company’s stock, up from their prior target price of $24.50. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 10.73% from the company’s current price.
Several other brokerages also recently issued reports on AYR. ValuEngine downgraded Aircastle from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Aircastle from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Aircastle presently has a consensus rating of “Hold” and a consensus price target of $22.71.
Shares of NYSE:AYR opened at $23.48 on Monday. The company has a market cap of $1.76 billion, a P/E ratio of 7.41 and a beta of 1.50. The stock’s 50-day moving average is $22.60 and its 200-day moving average is $21.00. Aircastle has a 52-week low of $15.75 and a 52-week high of $23.86.
Aircastle (NYSE:AYR) last issued its quarterly earnings results on Tuesday, August 6th. The transportation company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The company had revenue of $223.42 million for the quarter, compared to the consensus estimate of $212.47 million. Aircastle had a return on equity of 10.27% and a net margin of 22.31%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.67 earnings per share. Research analysts predict that Aircastle will post 1.98 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC increased its stake in Aircastle by 220.5% in the second quarter. Denali Advisors LLC now owns 41,700 shares of the transportation company’s stock valued at $887,000 after purchasing an additional 28,691 shares during the last quarter. WINTON GROUP Ltd bought a new position in Aircastle during the 2nd quarter valued at $238,000. Carroll Financial Associates Inc. bought a new position in Aircastle during the 2nd quarter valued at $36,000. CENTRAL TRUST Co boosted its stake in Aircastle by 42.9% during the 2nd quarter. CENTRAL TRUST Co now owns 3,000 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 900 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Aircastle by 13.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 50,500 shares of the transportation company’s stock valued at $1,074,000 after purchasing an additional 5,800 shares in the last quarter. 57.23% of the stock is currently owned by institutional investors and hedge funds.
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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