Fly Leasing (FLY) Lowered to “Sell” at ValuEngine

Fly Leasing (NYSE:FLY) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other research analysts have also recently weighed in on FLY. Zacks Investment Research cut shares of Fly Leasing from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet upgraded shares of Fly Leasing from a “d+” rating to a “c-” rating in a report on Wednesday, September 19th. Finally, Citigroup upped their price target on shares of Fly Leasing from $14.00 to $14.50 and gave the company a “sell” rating in a report on Friday, August 24th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. Fly Leasing has an average rating of “Hold” and a consensus target price of $18.63.

NYSE FLY traded up $0.35 during trading on Thursday, reaching $13.50. 70,600 shares of the stock traded hands, compared to its average volume of 107,629. The stock has a market cap of $377.38 million, a P/E ratio of 150.00, a P/E/G ratio of 0.57 and a beta of 1.03. The company has a debt-to-equity ratio of 4.29, a quick ratio of 1.33 and a current ratio of 1.33. Fly Leasing has a fifty-two week low of $11.54 and a fifty-two week high of $15.32.

Fly Leasing (NYSE:FLY) last issued its quarterly earnings data on Thursday, August 23rd. The transportation company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.18. The firm had revenue of $99.30 million during the quarter, compared to analysts’ expectations of $98.62 million. Fly Leasing had a net margin of 7.43% and a return on equity of 5.79%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. Analysts predict that Fly Leasing will post 2.3 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in FLY. Citadel Advisors LLC lifted its position in shares of Fly Leasing by 27.0% in the second quarter. Citadel Advisors LLC now owns 25,715 shares of the transportation company’s stock worth $363,000 after purchasing an additional 5,468 shares in the last quarter. Aperio Group LLC lifted its position in shares of Fly Leasing by 6.7% in the third quarter. Aperio Group LLC now owns 102,977 shares of the transportation company’s stock worth $1,452,000 after purchasing an additional 6,435 shares in the last quarter. US Bancorp DE lifted its position in shares of Fly Leasing by 2.1% in the second quarter. US Bancorp DE now owns 349,179 shares of the transportation company’s stock worth $4,920,000 after purchasing an additional 7,050 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of Fly Leasing by 67.2% in the second quarter. Campbell & CO Investment Adviser LLC now owns 22,467 shares of the transportation company’s stock worth $317,000 after purchasing an additional 9,028 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Fly Leasing by 9.4% in the third quarter. Russell Investments Group Ltd. now owns 197,575 shares of the transportation company’s stock worth $2,787,000 after purchasing an additional 16,951 shares in the last quarter. Institutional investors own 49.06% of the company’s stock.

Fly Leasing Company Profile

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in Dún Laoghaire, Ireland.

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