Aircastle Ltd. (NYSE:AYR) was upgraded by equities research analysts at FBR & Co from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday. The brokerage presently has a $23.00 price target on the stock. FBR & Co’s target price would suggest a potential upside of 2.59% from the company’s current price.
AYR has been the subject of several other reports. TheStreet lowered Aircastle from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Stephens started coverage on Aircastle in a research note on Tuesday, November 1st. They issued an “underweight” rating and a $20.00 target price for the company. Finally, Zacks Investment Research lowered Aircastle from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Aircastle presently has an average rating of “Hold” and a consensus price target of $23.00.
Aircastle (NYSE:AYR) remained flat at $22.42 on Wednesday. The company had a trading volume of 98,682 shares. Aircastle has a 52-week low of $15.06 and a 52-week high of $22.99. The firm has a 50 day moving average of $20.95 and a 200 day moving average of $20.88. The stock has a market cap of $1.76 billion, a P/E ratio of 13.30 and a beta of 1.65.
Aircastle (NYSE:AYR) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The firm had revenue of $194.70 million for the quarter, compared to analyst estimates of $189.93 million. Aircastle had a return on equity of 8.02% and a net margin of 17.25%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.12) earnings per share. On average, analysts expect that Aircastle will post $1.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 29th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Friday, November 25th. This is a positive change from Aircastle’s previous quarterly dividend of $0.24. Aircastle’s dividend payout ratio (DPR) is 56.80%.
In other Aircastle news, insider Joseph Schreiner sold 4,998 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $21.77, for a total transaction of $108,806.46. Following the completion of the sale, the insider now owns 35,208 shares in the company, valued at approximately $766,478.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.
Large investors have recently modified their holdings of the stock. Creative Planning raised its stake in shares of Aircastle by 21.1% in the third quarter. Creative Planning now owns 6,053 shares of the company’s stock worth $120,000 after buying an additional 1,053 shares during the period. BNP Paribas Arbitrage SA increased its position in 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 in the last quarter. Teacher Retirement System of Texas increased its position in 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 in the last quarter. Farmers National Bank purchased a new position in Aircastle during the second quarter worth approximately $163,000. Finally, Suntrust Banks Inc. increased its position in 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 in the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.