Aircastle Limited (AYR) Cut to Buy at ValuEngine

ValuEngine downgraded shares of Aircastle Limited (NYSE:AYR) from a strong-buy rating to a buy rating in a report published on Monday, November 6th.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Aircastle from a hold rating to a sell rating in a report on Monday, August 14th. Cowen Inc restated a market perform rating and set a $26.00 price objective (up previously from $25.00) on shares of Aircastle in a report on Thursday, August 10th. BidaskClub downgraded Aircastle from a sell rating to a strong sell rating in a report on Monday, August 14th. Barclays PLC assumed coverage on Aircastle in a report on Monday, July 10th. They set an equal weight rating and a $24.00 price objective on the stock. Finally, Credit Suisse Group boosted their price objective on Aircastle from $25.00 to $26.00 and gave the stock a neutral rating in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Aircastle currently has a consensus rating of Hold and an average price target of $25.00.

Shares of Aircastle (NYSE AYR) traded up $0.16 during midday trading on Monday, reaching $23.51. 92,186 shares of the company’s stock were exchanged, compared to its average volume of 249,605. Aircastle has a 52 week low of $20.50 and a 52 week high of $25.98. The firm has a market cap of $1,850.00, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.97 and a beta of 1.85.

Aircastle (NYSE:AYR) last issued its quarterly earnings results on Thursday, November 2nd. The transportation company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.15. Aircastle had a net margin of 19.48% and a return on equity of 9.18%. The company had revenue of $191.41 million during the quarter, compared to the consensus estimate of $184.02 million. During the same period in the prior year, the company earned $0.38 EPS. Aircastle’s revenue was down 1.7% on a year-over-year basis. equities analysts anticipate that Aircastle will post 1.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Wednesday, November 29th. This is an increase from Aircastle’s previous quarterly dividend of $0.26. Aircastle’s payout ratio is presently 50.98%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Aircastle by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,629,041 shares of the transportation company’s stock valued at $135,829,000 after purchasing an additional 176,874 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Aircastle by 3.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,224,849 shares of the transportation company’s stock valued at $116,461,000 after purchasing an additional 181,292 shares during the period. Northern Trust Corp increased its holdings in shares of Aircastle by 36.0% in the 2nd quarter. Northern Trust Corp now owns 2,021,880 shares of the transportation company’s stock valued at $43,976,000 after purchasing an additional 535,106 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Aircastle by 3.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,309,952 shares of the transportation company’s stock valued at $28,491,000 after purchasing an additional 38,690 shares during the period. Finally, State Street Corp increased its holdings in shares of Aircastle by 6.7% in the 2nd quarter. State Street Corp now owns 1,152,919 shares of the transportation company’s stock valued at $25,075,000 after purchasing an additional 72,112 shares during the period. Hedge funds and other institutional investors own 61.15% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Aircastle (NYSE:AYR)

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