Brokerages Set Aircastle Limited (AYR) Target Price at $24.75

Shares of Aircastle Limited (NYSE:AYR) have received an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $24.75.

Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Aircastle from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 30th. ValuEngine lowered shares of Aircastle from a “sell” rating to a “strong sell” rating in a research note on Friday, August 3rd. Finally, Cowen upgraded shares of Aircastle from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $26.00 in a research note on Thursday, September 27th.

NYSE:AYR opened at $18.99 on Thursday. The firm has a market capitalization of $1.45 billion, a PE ratio of 10.16, a P/E/G ratio of 0.77 and a beta of 1.75. Aircastle has a twelve month low of $17.86 and a twelve month high of $25.30.

Aircastle (NYSE:AYR) last released its quarterly earnings data on Thursday, November 1st. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. The company had revenue of $190.80 million during the quarter, compared to analyst estimates of $192.78 million. Aircastle had a net margin of 25.70% and a return on equity of 10.26%. Aircastle’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. On average, analysts expect that Aircastle will post 2.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.20 annualized dividend and a dividend yield of 6.32%. This is a positive change from Aircastle’s previous quarterly dividend of $0.28. Aircastle’s payout ratio is currently 59.89%.

In other Aircastle news, Director Ronald Merriman sold 7,500 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $21.26, for a total transaction of $159,450.00. Following the completion of the sale, the director now owns 21,024 shares in the company, valued at approximately $446,970.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. American Century Companies Inc. increased its stake in Aircastle by 0.8% during the 3rd quarter. American Century Companies Inc. now owns 323,103 shares of the transportation company’s stock valued at $7,079,000 after purchasing an additional 2,701 shares in the last quarter. Teachers Advisors LLC increased its stake in Aircastle by 3.2% during the 3rd quarter. Teachers Advisors LLC now owns 100,239 shares of the transportation company’s stock valued at $2,196,000 after purchasing an additional 3,068 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Aircastle by 1.3% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 253,523 shares of the transportation company’s stock valued at $5,555,000 after purchasing an additional 3,222 shares in the last quarter. SG Americas Securities LLC increased its stake in Aircastle by 69.9% during the 2nd quarter. SG Americas Securities LLC now owns 10,128 shares of the transportation company’s stock valued at $208,000 after purchasing an additional 4,168 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Aircastle by 8.0% during the 3rd quarter. Rhumbline Advisers now owns 68,459 shares of the transportation company’s stock valued at $1,500,000 after purchasing an additional 5,063 shares in the last quarter. Institutional investors and hedge funds own 59.40% of the company’s stock.

About Aircastle

Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. The company also invests in other aviation assets. As of December 31, 2017, its aircraft portfolio comprised 236 aircraft leased to 81 lessees located in 43 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.

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Analyst Recommendations for Aircastle (NYSE:AYR)

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