Aircastle (NYSE:AYR) Downgraded by ValuEngine

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ValuEngine cut shares of Aircastle (NYSE:AYR) from a hold rating to a sell rating in a report published on Thursday morning, ValuEngine reports.

AYR has been the subject of several other research reports. Zacks Investment Research cut shares of Aircastle from a hold rating to a sell rating in a research note on Wednesday, July 24th. Goldman Sachs Group started coverage on shares of Aircastle in a research note on Monday, April 8th. They set a sell rating and a $18.00 price objective for the company. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $21.50.

Shares of NYSE:AYR opened at $20.02 on Thursday. The company’s 50 day moving average price is $20.89. The stock has a market capitalization of $1.50 billion, a PE ratio of 6.32 and a beta of 1.58. Aircastle has a 12 month low of $15.75 and a 12 month high of $22.27.

Aircastle (NYSE:AYR) last issued its quarterly earnings data on Thursday, May 2nd. The transportation company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. The company had revenue of $213.93 million during the quarter, compared to analysts’ expectations of $202.84 million. Aircastle had a net margin of 24.90% and a return on equity of 11.31%. Aircastle’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. As a group, analysts anticipate that Aircastle will post 1.93 EPS for the current year.

Aircastle declared that its board has approved a share buyback program on Tuesday, May 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the transportation company to buy up to 6.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other Aircastle news, Director Ronald Merriman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $20.06, for a total value of $200,600.00. Following the completion of the transaction, the director now owns 7,831 shares of the company’s stock, valued at approximately $157,089.86. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Comerica Bank bought a new position in shares of Aircastle in the 2nd quarter worth approximately $3,204,000. Advisor Group Inc. lifted its stake in shares of Aircastle by 40.1% in the 2nd quarter. Advisor Group Inc. now owns 10,539 shares of the transportation company’s stock worth $225,000 after purchasing an additional 3,016 shares during the period. Hussman Strategic Advisors Inc. lifted its stake in shares of Aircastle by 1,150.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 50,000 shares of the transportation company’s stock worth $1,063,000 after purchasing an additional 46,000 shares during the period. KBC Group NV lifted its stake in shares of Aircastle by 95.1% in the 2nd quarter. KBC Group NV now owns 195,049 shares of the transportation company’s stock worth $4,147,000 after purchasing an additional 95,087 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Aircastle by 9.0% in the 2nd quarter. First Trust Advisors LP now owns 340,357 shares of the transportation company’s stock worth $7,236,000 after purchasing an additional 28,238 shares during the period. 57.13% of the stock is owned by institutional investors and hedge funds.

Aircastle Company Profile

Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2018, its aircraft portfolio comprised 261 aircraft leased to 81 lessees located in 44 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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