AeroCentury Corp. (ACY) Lowered to Buy at ValuEngine

ValuEngine downgraded shares of AeroCentury Corp. (NYSEMKT:ACY) from a strong-buy rating to a buy rating in a research note released on Monday.

Several other analysts also recently weighed in on the company. TheStreet downgraded AeroCentury Corp. from a c rating to a d rating in a report on Wednesday, May 17th. Zacks Investment Research raised AeroCentury Corp. from a hold rating to a buy rating and set a $13.00 target price for the company in a report on Monday, August 28th.

Shares of AeroCentury Corp. (NYSEMKT ACY) opened at 11.60 on Monday. The stock has a market capitalization of $16.43 million, a PE ratio of 11.96 and a beta of 0.15. The firm has a 50-day moving average price of $11.91 and a 200-day moving average price of $11.14. AeroCentury Corp. has a 1-year low of $8.50 and a 1-year high of $16.10.

AeroCentury Corp. (NYSEMKT:ACY) last announced its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.25. The company had revenue of $7.11 million during the quarter, compared to the consensus estimate of $7.84 million. AeroCentury Corp. had a return on equity of 3.50% and a net margin of 4.32%. On average, equities research analysts forecast that AeroCentury Corp. will post $1.77 earnings per share for the current year.

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A hedge fund recently raised its stake in AeroCentury Corp. stock. Renaissance Technologies LLC boosted its stake in AeroCentury Corp. (NYSEMKT:ACY) by 7.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,000 shares of the financial services provider’s stock after acquiring an additional 1,300 shares during the period. Renaissance Technologies LLC’s holdings in AeroCentury Corp. were worth $176,000 as of its most recent SEC filing.

About AeroCentury Corp.

AeroCentury Corp. acquires used regional aircraft and aircraft engines for lease to regional carriers all over the world. The Company’s segment is leasing of regional aircraft to foreign and domestic regional airlines. The business of the Company is managed by JetFleet Management Corp. (JMC), an integrated aircraft management, marketing and financing business.

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