Aircastle Limited (AYR) Earns Hold Rating from Cowen and Company

Cowen and Company reaffirmed their hold rating on shares of Aircastle Limited (NYSE:AYR) in a research report sent to investors on Tuesday morning. Cowen and Company currently has a $26.00 target price on the transportation company’s stock.

Several other research firms have also issued reports on AYR. Barclays PLC assumed coverage on shares of Aircastle Limited in a research report on Monday, July 10th. They set an equal weight rating and a $24.00 price target on the stock. Wells Fargo & Company reaffirmed a market perform rating and set a $24.00 price target (down from $26.00) on shares of Aircastle Limited in a research report on Thursday, May 25th. Zacks Investment Research lowered shares of Aircastle Limited from a buy rating to a hold rating in a research report on Wednesday, July 5th. Finally, BidaskClub lowered shares of Aircastle Limited from a sell rating to a strong sell rating in a research report on Monday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $24.30.

Shares of Aircastle Limited (NYSE AYR) traded up 0.19% on Tuesday, reaching $21.58. 143,041 shares of the company traded hands. The stock has a 50 day moving average of $22.36 and a 200 day moving average of $22.66. Aircastle Limited has a 52-week low of $18.26 and a 52-week high of $25.98. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 13.02 and a beta of 1.83.

Aircastle Limited (NYSE:AYR) last announced its earnings results on Tuesday, August 8th. The transportation company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.58). Aircastle Limited had a return on equity of 7.41% and a net margin of 15.75%. The business had revenue of $223.53 million for the quarter, compared to analyst estimates of $206.10 million. During the same quarter in the previous year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, analysts expect that Aircastle Limited will post $1.92 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Tuesday, August 29th. Aircastle Limited’s dividend payout ratio (DPR) is currently 62.65%.

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Group LLC raised its position in shares of Aircastle Limited by 9.6% in the second quarter. Renaissance Group LLC now owns 18,464 shares of the transportation company’s stock valued at $402,000 after purchasing an additional 1,617 shares during the period. Clearbridge Investments LLC raised its position in shares of Aircastle Limited by 1.4% in the first quarter. Clearbridge Investments LLC now owns 13,616 shares of the transportation company’s stock valued at $329,000 after purchasing an additional 189 shares during the period. Vanguard Group Inc. raised its position in shares of Aircastle Limited by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,629,041 shares of the transportation company’s stock valued at $135,829,000 after purchasing an additional 176,874 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Aircastle Limited by 75.5% in the first quarter. UBS Asset Management Americas Inc. now owns 43,708 shares of the transportation company’s stock valued at $1,055,000 after purchasing an additional 18,804 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Aircastle Limited by 8.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 340,767 shares of the transportation company’s stock valued at $8,223,000 after purchasing an additional 26,983 shares during the period. 62.04% of the stock is currently owned by institutional investors.

About Aircastle Limited

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.

Analyst Recommendations for Aircastle Limited (NYSE:AYR)

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