AeroCentury (ACY) Stock Rating Upgraded by Zacks Investment Research

AeroCentury (NYSEAMERICAN:ACY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

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) “

Separately, TheStreet cut shares of AeroCentury from a “b” rating to a “c” rating in a research note on Wednesday, May 16th.

Shares of AeroCentury opened at $14.80 on Wednesday, according to AeroCentury has a 52 week low of $10.10 and a 52 week high of $17.34.

AeroCentury (NYSEAMERICAN:ACY) last issued its quarterly earnings data on Tuesday, May 15th. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The business had revenue of $7.89 million during the quarter, compared to analyst estimates of $7.99 million. AeroCentury had a net margin of 4.61% and a return on equity of 3.75%.

A hedge fund recently raised its stake in AeroCentury stock. Renaissance Technologies LLC grew its position in shares of AeroCentury Corp. (NYSEAMERICAN:ACY) by 45.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,400 shares of the company’s stock after purchasing an additional 13,200 shares during the period. Renaissance Technologies LLC owned 2.99% of AeroCentury worth $646,000 at the end of the most recent quarter.

About AeroCentury

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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