Aircastle Limited (AYR) Lowered to “Market Perform” at Cowen and Company

Cowen and Company lowered shares of Aircastle Limited (NYSE:AYR) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday. They currently have $25.00 price target on the stock, up from their prior price target of $23.00.

A number of other research analysts also recently commented on AYR. Stephens initiated coverage on Aircastle Limited in a research report on Tuesday, November 1st. They set an underweight rating and a $20.00 target price for the company. FBR & Co upgraded Aircastle Limited from a market perform rating to an outperform rating and set a $23.00 target price for the company in a research report on Wednesday, November 2nd. TheStreet upgraded Aircastle Limited from a hold rating to a buy rating in a research report on Tuesday, November 1st. DA Davidson reiterated a buy rating and set a $24.00 target price on shares of Aircastle Limited in a research report on Wednesday, November 9th. Finally, Zacks Investment Research upgraded Aircastle Limited from a sell rating to a hold rating in a research report on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $23.55.

Aircastle Limited (NYSE:AYR) opened at 25.65 on Wednesday. Aircastle Limited has a 52 week low of $17.75 and a 52 week high of $25.98. The stock has a market capitalization of $2.02 billion, a P/E ratio of 15.21 and a beta of 1.62. The company has a 50 day moving average of $22.17 and a 200 day moving average of $21.28.

Aircastle Limited (NYSE:AYR) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.38. Aircastle Limited had a net margin of 17.25% and a return on equity of 8.02%. The business earned $204.70 million during the quarter, compared to analyst estimates of $199.07 million. During the same period last year, the firm posted $0.67 EPS. The company’s revenue was down 1.7% on a year-over-year basis. Equities analysts expect that Aircastle Limited will post $1.76 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Friday, February 24th. Aircastle Limited’s dividend payout ratio (DPR) is 61.54%.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Aircastle Limited by 4.2% in the second quarter. Vanguard Group Inc. now owns 5,378,298 shares of the company’s stock worth $105,200,000 after buying an additional 216,704 shares during the period. Dimensional Fund Advisors LP increased its stake in Aircastle Limited by 9.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,331,755 shares of the company’s stock worth $90,318,000 after buying an additional 366,110 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Aircastle Limited by 1.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,831,184 shares of the company’s stock worth $56,227,000 after buying an additional 33,451 shares during the period. River Road Asset Management LLC increased its stake in Aircastle Limited by 16.0% in the third quarter. River Road Asset Management LLC now owns 2,115,776 shares of the company’s stock worth $42,019,000 after buying an additional 291,742 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Aircastle Limited by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,418,611 shares of the company’s stock worth $28,174,000 after buying an additional 24,516 shares during the period. 63.43% of the stock is owned by hedge funds and other institutional investors.

About Aircastle Limited

Aircastle Limited is a holding company. The Company, through its subsidiaries, is engaged in investing in aviation assets, including acquiring, leasing, managing and selling utility commercial jet aircraft. The Company operates through leasing, financing, selling and managing commercial flight equipment segment.

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