Aircastle (AYR) Hits New 12-Month Low After Analyst Downgrade

Shares of Aircastle Limited (NYSE:AYR) hit a new 52-week low during mid-day trading on Tuesday after ValuEngine downgraded the stock from a strong-buy rating to a buy rating. The stock traded as low as $20.71 and last traded at $20.77, with a volume of 409479 shares changing hands. The stock had previously closed at $21.73.

Several other analysts have also issued reports on the stock. Credit Suisse Group lifted their target price on shares of Aircastle from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Barclays initiated coverage on shares of Aircastle in a research note on Monday, July 10th. They issued an “equal weight” rating and a $24.00 price target on the stock. Zacks Investment Research downgraded shares of Aircastle from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Cowen reissued a “hold” rating and issued a $26.00 price target on shares of Aircastle in a research note on Tuesday, September 12th. Finally, BidaskClub downgraded shares of Aircastle from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two equities 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. The company presently has an average rating of “Hold” and an average target price of $24.89.

Large investors have recently bought and sold shares of the company. Baker Ellis Asset Management LLC purchased a new position in shares of Aircastle in the fourth quarter worth about $106,000. Zions Bancorporation purchased a new position in shares of Aircastle in the third quarter worth about $111,000. Kayne Anderson Capital Advisors LP purchased a new position in shares of Aircastle in the third quarter worth about $207,000. Suntrust Banks Inc. lifted its stake in shares of Aircastle by 0.7% in the second quarter. Suntrust Banks Inc. now owns 9,711 shares of the transportation company’s stock worth $210,000 after buying an additional 67 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Aircastle by 98.5% in the third quarter. SG Americas Securities LLC now owns 11,026 shares of the transportation company’s stock worth $246,000 after buying an additional 5,471 shares in the last quarter. 61.08% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market capitalization of $1,630.00, a P/E ratio of 10.15, a P/E/G ratio of 0.90 and a beta of 1.77.

Aircastle (NYSE:AYR) last issued its earnings results on Tuesday, February 13th. The transportation company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Aircastle had a net margin of 19.48% and a return on equity of 9.18%. The company had revenue of $177.40 million for the quarter, compared to the consensus estimate of $184.09 million. During the same period in the previous year, the firm earned $0.90 earnings per share. Aircastle’s quarterly revenue was down 13.3% compared to the same quarter last year. sell-side analysts forecast that Aircastle Limited will post 1.75 earnings per share for the current fiscal year.

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Aircastle Company Profile

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.

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