Fly Leasing (FLY) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Fly Leasing (NYSE:FLY) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Several other brokerages have also issued reports on FLY. Zacks Investment Research upgraded Fly Leasing from a strong sell rating to a hold rating in a report on Wednesday, November 22nd. BidaskClub lowered Fly Leasing from a buy rating to a hold rating in a report on Thursday, August 10th. Compass Point reiterated a buy rating and set a $19.00 price objective (up from $17.00) on shares of Fly Leasing in a report on Tuesday, October 3rd. Finally, Cowen reiterated a buy rating and set a $16.00 price objective on shares of Fly Leasing in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $18.00.

Shares of Fly Leasing (FLY) traded up $0.02 during trading hours on Friday, hitting $13.71. The company had a trading volume of 58,200 shares, compared to its average volume of 133,559. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 4.74. Fly Leasing has a twelve month low of $11.91 and a twelve month high of $14.65. The stock has a market capitalization of $393.45, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 8.75 and a beta of 1.07.

Large investors have recently made changes to their positions in the stock. Monarch Partners Asset Management LLC purchased a new stake in shares of Fly Leasing during the third quarter worth $479,000. Russell Investments Group Ltd. increased its position in Fly Leasing by 44.1% during the second quarter. Russell Investments Group Ltd. now owns 247,957 shares of the transportation company’s stock worth $3,335,000 after buying an additional 75,926 shares during the last quarter. California Public Employees Retirement System increased its position in Fly Leasing by 12.1% during the first quarter. California Public Employees Retirement System now owns 102,700 shares of the transportation company’s stock worth $1,347,000 after buying an additional 11,100 shares during the last quarter. Renaissance Group LLC increased its position in Fly Leasing by 10.5% during the second quarter. Renaissance Group LLC now owns 30,222 shares of the transportation company’s stock worth $406,000 after buying an additional 2,874 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in Fly Leasing by 4.7% during the third quarter. Gabelli Funds LLC now owns 319,301 shares of the transportation company’s stock worth $4,477,000 after buying an additional 14,301 shares during the last quarter. Institutional investors and hedge funds own 45.02% of the company’s stock.

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About Fly Leasing

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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

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