AeroCentury (ACY) Lifted to Buy at Zacks Investment Research

AeroCentury (NYSEAMERICAN:ACY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $13.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 9.81% from the company’s previous close.

According to Zacks, “AeroCentury Corp. was formed to acquire JetFleet Aircraft, L.P. and JetFleet Aircraft II, L.P., in a statutory merger. The company is an operating lessor and finance company which specializes in leasing used turboprop aircraft and engines. The company’s aircraft and engines are on lease to regional airlines and commercial users in the U.S., Canada, the U.K., South America and Europe. (PRESS RELEASE) “

Shares of NYSEAMERICAN:ACY traded down $0.74 during trading on Wednesday, hitting $11.84. 4,386 shares of the company’s stock traded hands, compared to its average volume of 1,890. AeroCentury has a 52 week low of $8.36 and a 52 week high of $17.34.

An institutional investor recently raised its position in AeroCentury stock. Dimensional Fund Advisors LP lifted its stake in shares of AeroCentury Corp. (NYSEAMERICAN:ACY) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,083 shares of the company’s stock after purchasing an additional 2,905 shares during the period. Dimensional Fund Advisors LP owned 5.57% of AeroCentury worth $824,000 at the end of the most recent quarter.

AeroCentury Company Profile

AeroCentury Corp., together with its subsidiaries, acquires and leases aircraft and aircraft engines to regional airlines in the United States and internationally. The company provides operating and finance leasing services of mid-life regional aircraft to carriers. It also sells aircraft from its operating lease portfolio to third parties, which includes other leasing companies, financial services companies, and airlines, as well as engages in parting out aircraft.

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