Analysts Set Aircastle Limited (AYR) Price Target at $22.50

Shares of Aircastle Limited (NYSE:AYR) have received a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.50.

Several analysts have issued reports on AYR shares. Barclays set a $22.00 target price on shares of Aircastle and gave the stock a “hold” rating in a research note on Friday, December 14th. Zacks Investment Research raised Aircastle from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Wednesday, March 20th. ValuEngine raised Aircastle from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. TheStreet downgraded Aircastle from a “b-” rating to a “c+” rating in a report on Friday, December 28th. Finally, Credit Suisse Group reduced their price objective on Aircastle from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, December 11th.

Shares of AYR stock traded up $0.27 during trading on Wednesday, reaching $20.51. 4,777 shares of the company’s stock traded hands, compared to its average volume of 357,952. The stock has a market capitalization of $1.52 billion, a P/E ratio of 6.46 and a beta of 1.73. Aircastle has a 1 year low of $15.75 and a 1 year high of $23.14.

Aircastle (NYSE:AYR) last announced its quarterly earnings results on Tuesday, February 12th. The transportation company reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.01. The company had revenue of $292.60 million for the quarter, compared to analysts’ expectations of $282.86 million. Aircastle had a net margin of 27.77% and a return on equity of 12.57%. Aircastle’s revenue was up 48.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. On average, sell-side analysts anticipate that Aircastle will post 2.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date of this dividend was Wednesday, February 27th. Aircastle’s dividend payout ratio (DPR) is currently 37.85%.

In related news, insider Michael Kriedberg sold 35,000 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $20.45, for a total value of $715,750.00. Following the completion of the sale, the insider now owns 180,968 shares in the company, valued at approximately $3,700,795.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AYR. IFP Advisors Inc grew its stake in shares of Aircastle by 96.3% in the fourth quarter. IFP Advisors Inc now owns 2,038 shares of the transportation company’s stock worth $35,000 after purchasing an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Aircastle by 29.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,560 shares of the transportation company’s stock valued at $79,000 after acquiring an additional 1,048 shares during the last quarter. Advisor Group Inc. boosted its position in Aircastle by 82.1% during the fourth quarter. Advisor Group Inc. now owns 7,848 shares of the transportation company’s stock valued at $134,000 after acquiring an additional 3,538 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in Aircastle during the third quarter valued at $203,000. Finally, Raymond James Trust N.A. bought a new stake in Aircastle during the third quarter valued at $206,000. Institutional investors and hedge funds own 58.65% of the company’s stock.

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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