AeroCentury (NYSEAMERICAN:ACY) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of AeroCentury (NYSEAMERICAN:ACY) from a buy rating to a hold rating in a research report sent to investors on Thursday, reports.

According to Zacks, “AeroCentury Corp. was formed to acquire JetFleet Aircraft, L.P. and JetFleet Aircraft II, L.P., in a statutory merger. The company is an operating lessor and finance company which specializes in leasing used turboprop aircraft and engines. The company’s aircraft and engines are on lease to regional airlines and commercial users in the U.S., Canada, the U.K., South America and Europe. (PRESS RELEASE) “

A number of other research analysts have also recently weighed in on the stock. TheStreet cut shares of AeroCentury from a c rating to a d rating in a research note on Wednesday, May 15th. Taglich Brothers restated a speculative buy rating on shares of AeroCentury in a report on Wednesday, May 22nd.

NYSEAMERICAN:ACY traded down $0.47 during trading hours on Thursday, hitting $7.53. 107 shares of the company traded hands, compared to its average volume of 3,888. AeroCentury has a one year low of $7.16 and a one year high of $17.15.

AeroCentury (NYSEAMERICAN:ACY) last issued its quarterly earnings data on Wednesday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The firm had revenue of $7.38 million for the quarter, compared to analysts’ expectations of $7.62 million.

A hedge fund recently raised its stake in AeroCentury stock. Leisure Capital Management raised its stake in AeroCentury Corp. (NYSEAMERICAN:ACY) by 4.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,300 shares of the company’s stock after acquiring an additional 2,159 shares during the quarter. Leisure Capital Management owned about 3.25% of AeroCentury worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

About AeroCentury

AeroCentury Corp., together with its subsidiaries, acquires and leases aircraft and aircraft engines to regional airlines in the United States and internationally. The company provides operating and finance leasing services of mid-life regional aircraft to carriers. It also sells aircraft from its operating lease portfolio to third parties, which includes other leasing companies, financial services companies, and airlines, as well as engages in parting out aircraft.

Recommended Story: Ex-Dividend

Get a free copy of the Zacks research report on AeroCentury (ACY)

For more information about research offerings from Zacks Investment Research, visit

Receive News & Ratings for AeroCentury Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AeroCentury and related companies with's FREE daily email newsletter.