Aircastle Ltd. (AYR) Given Hold Rating at FBR & Co

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Aircastle Ltd. (NYSE:AYR)‘s stock had its “hold” rating reiterated by investment analysts at FBR & Co in a note issued to investors on Monday. They currently have a $23.00 price target on the stock. FBR & Co’s price objective suggests a potential upside of 19.67% from the stock’s current price.
AYR has been the subject of a number of other reports. Zacks Investment Research lowered shares of Aircastle from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. TheStreet lowered shares of Aircastle from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Aircastle currently has a consensus rating of “Hold” and an average price target of $23.10.
Shares of Aircastle (NYSE:AYR) traded down 0.52% during midday trading on Monday, hitting $19.22. The stock had a trading volume of 468,074 shares. The firm has a market capitalization of $1.51 billion, a PE ratio of 16.63 and a beta of 1.88. The company’s 50 day moving average price is $21.12 and its 200-day moving average price is $21.24. Aircastle has a 1-year low of $15.06 and a 1-year high of $23.49.

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Aircastle (NYSE:AYR) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.10. Aircastle had a net margin of 11.68% and a return on equity of 5.70%. The firm earned $190 million during the quarter, compared to analyst estimates of $188.25 million. During the same period last year, the firm earned $0.58 EPS. Aircastle’s quarterly revenue was down 7.1% on a year-over-year basis. Equities analysts predict that Aircastle will post $1.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, August 26th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.99%. Aircastle’s payout ratio is 82.05%.
In other news, insider Joseph Schreiner sold 4,998 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $21.77, for a total value of $108,806.46. Following the sale, the insider now directly owns 35,208 shares of the company’s stock, valued at approximately $766,478.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of AYR. BNP Paribas Arbitrage SA boosted its stake in shares of Aircastle by 78.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,179 shares of the company’s stock worth $121,000 after buying an additional 2,720 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Aircastle by 3.6% in the second quarter. Teacher Retirement System of Texas now owns 8,268 shares of the company’s stock worth $162,000 after buying an additional 288 shares during the period. Farmers National Bank bought a new position in shares of Aircastle during the second quarter worth approximately $163,000. Suntrust Banks Inc. raised its position in shares of Aircastle by 6.3% in the second quarter. Suntrust Banks Inc. now owns 10,109 shares of the company’s stock worth $197,000 after buying an additional 596 shares during the period. Finally, LMR Partners LLP bought a new position in shares of Aircastle during the second quarter worth approximately $204,000. 65.19% of the stock is currently owned by institutional investors.
About Aircastle
Aircastle Limited is a holding company. The Company, through its subsidiaries, is engaged in investing in aviation assets, including acquiring, leasing, managing and selling utility commercial jet aircraft. The Company operates through leasing, financing, selling and managing commercial flight equipment segment.

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