ValuEngine Downgrades Fly Leasing (NYSE:FLY) to Hold

Fly Leasing (NYSE:FLY) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday, November 17th.

Several other analysts have also recently commented on FLY. BidaskClub cut shares of Fly Leasing from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Fly Leasing from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Tuesday, August 15th. Cowen restated a “buy” rating and set a $16.00 target price on shares of Fly Leasing in a report on Tuesday, September 19th. Finally, Compass Point reiterated a “buy” rating and set a $19.00 price target (up from $17.00) on shares of Fly Leasing in a report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $18.00.

Shares of Fly Leasing (NYSE:FLY) traded down $0.12 during trading on Friday, hitting $13.73. 100,099 shares of the stock traded hands, compared to its average volume of 133,362. The firm has a market cap of $394.88, a PE ratio of 11.72, a price-to-earnings-growth ratio of 8.75 and a beta of 1.07. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.18 and a current ratio of 1.18. Fly Leasing has a fifty-two week low of $11.91 and a fifty-two week high of $14.65.

A number of hedge funds have recently made changes to their positions in FLY. Ameriprise Financial Inc. lifted its position in Fly Leasing by 6.7% during the first quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock valued at $170,000 after buying an additional 817 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in Fly Leasing by 31.5% during the first quarter. Parametric Portfolio Associates LLC now owns 17,394 shares of the transportation company’s stock valued at $228,000 after buying an additional 4,163 shares in the last quarter. California Public Employees Retirement System lifted 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 valued at $1,347,000 after buying an additional 11,100 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Fly Leasing by 18.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 30,960 shares of the transportation company’s stock valued at $407,000 after buying an additional 4,851 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Fly Leasing during the first quarter valued at approximately $349,000. 45.02% of the stock is currently owned by hedge funds and other institutional investors.

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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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