Shares of Aircastle Limited (NYSE:AYR) have been assigned an average rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $21.20.

AYR has been the topic of a number of analyst reports. Goldman Sachs Group reissued a “neutral” rating and issued a $393.00 price target on shares of Boeing in a research note on Monday, April 8th. Zacks Investment Research cut Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, ValuEngine cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th.

NYSE:AYR traded up $0.01 during mid-day trading on Friday, reaching $21.33. 14,635 shares of the stock were exchanged, compared to its average volume of 209,575. The business’s fifty day moving average price is $20.48. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 6.74 and a beta of 1.57. Aircastle has a 1-year low of $15.75 and a 1-year high of $22.27.

Aircastle (NYSE:AYR) last released its earnings results on Thursday, May 2nd. The transportation company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The firm had revenue of $213.93 million for the quarter, compared to analyst estimates of $202.84 million. Aircastle had a return on equity of 11.31% and a net margin of 24.90%. Aircastle’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Sell-side analysts anticipate that Aircastle will post 2.16 earnings per share for the current year.

Aircastle declared that its board has authorized a stock buyback plan on Tuesday, May 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.30 dividend. The ex-dividend date was Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.63%. Aircastle’s dividend payout ratio is currently 37.85%.

In other Aircastle news, Director Ronald Merriman sold 10,000 shares of Aircastle stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $20.06, for a total transaction of $200,600.00. Following 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 document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AYR. Rhumbline Advisers increased its stake in shares of Aircastle by 36.1% in the fourth quarter. Rhumbline Advisers now owns 93,177 shares of the transportation company’s stock worth $1,606,000 after acquiring an additional 24,718 shares during the period. LPL Financial LLC increased its stake in shares of Aircastle by 38.8% in the fourth quarter. LPL Financial LLC now owns 19,434 shares of the transportation company’s stock worth $335,000 after acquiring an additional 5,430 shares during the period. New York State Common Retirement Fund increased its stake in shares of Aircastle by 20.9% in the fourth quarter. New York State Common Retirement Fund now owns 65,600 shares of the transportation company’s stock worth $1,131,000 after acquiring an additional 11,330 shares during the period. Stephens Inc. AR acquired a new stake in shares of Aircastle in the fourth quarter worth $331,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Aircastle by 2.5% in the fourth quarter. Bank of New York Mellon Corp now owns 242,484 shares of the transportation company’s stock worth $4,180,000 after acquiring an additional 6,010 shares during the period. 57.03% of the stock is currently owned by institutional investors.

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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