Aircastle (NYSE:AYR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “AIRCASTLE LTD are a global company that acquires and leases high utility commercial jet aircraft to passenger and cargo airlines throughout the world. High utility aircraft are generally modern, operationally efficient jets with a large operator base and long useful lives. They also make investments in other aviation assets, including debt securities secured by commercial jet aircraft. “

Several other research firms have also weighed in on AYR. Cowen raised Aircastle from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $24.00 to $26.00 in a research report on Thursday, September 27th. Barclays set a $22.00 target price on Aircastle and gave the company a “hold” rating in a research report on Friday, December 14th. TheStreet lowered Aircastle from a “b-” rating to a “c+” rating in a research report on Friday, December 28th. Credit Suisse Group decreased their target price on Aircastle from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, December 11th. Finally, ValuEngine raised Aircastle from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.29.

Shares of AYR stock traded down $0.02 during mid-day trading on Wednesday, hitting $19.97. The company’s stock had a trading volume of 205,237 shares, compared to its average volume of 358,969. Aircastle has a 52 week low of $15.75 and a 52 week high of $24.48. The firm has a market cap of $1.56 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.61.

Aircastle (NYSE:AYR) last posted its quarterly earnings data on Thursday, November 1st. The transportation company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. Aircastle had a return on equity of 10.26% and a net margin of 25.70%. The firm had revenue of $190.80 million during the quarter, compared to analyst estimates of $192.78 million. During the same period last year, the company posted $0.82 EPS. The business’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts forecast that Aircastle will post 3.28 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of AYR. IFP Advisors Inc increased its position in Aircastle by 96.3% in the 4th quarter. IFP Advisors Inc now owns 2,038 shares of the transportation company’s stock valued at $35,000 after buying an additional 1,000 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in Aircastle during the 3rd quarter worth approximately $203,000. Raymond James Trust N.A. bought a new stake in Aircastle during the 3rd quarter worth approximately $206,000. SG Americas Securities LLC increased its holdings in Aircastle by 69.9% during the 2nd quarter. SG Americas Securities LLC now owns 10,128 shares of the transportation company’s stock worth $208,000 after purchasing an additional 4,168 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Aircastle during the 3rd quarter worth approximately $279,000. 57.80% of the stock is owned by institutional investors and hedge funds.

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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