Aircastle (NYSE:AYR) Stock Rating Lowered by Cowen

Aircastle (NYSE:AYR) was downgraded by analysts at Cowen from an “outperform” rating to a “market perform” rating in a report released on Friday, MarketBeat reports. They currently have a $32.00 price target on the transportation company’s stock, up from their prior price target of $29.00. Cowen’s target price points to a potential downside of 0.78% from the company’s previous close.

A number of other brokerages have also recently commented on AYR. ValuEngine upgraded shares of Aircastle from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded shares of Aircastle from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upgraded shares of Aircastle from an “underweight” rating to a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Goldman Sachs Group upgraded shares of Aircastle from a “sell” rating to a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.71.

Shares of AYR stock traded down $0.14 during trading on Friday, reaching $32.25. 1,206,303 shares of the company’s stock traded hands, compared to its average volume of 353,203. The company has a market capitalization of $2.07 billion, a P/E ratio of 10.17 and a beta of 1.50. The firm’s 50-day moving average is $24.34 and its 200 day moving average is $21.63. Aircastle has a 1 year low of $15.75 and a 1 year high of $32.44.

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A number of hedge funds and other institutional investors have recently bought and sold shares of AYR. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Aircastle in the 3rd quarter worth approximately $34,000. Carroll Financial Associates Inc. purchased a new stake in Aircastle in the 2nd quarter worth approximately $36,000. CENTRAL TRUST Co raised its position in shares of Aircastle by 42.9% during the 2nd quarter. CENTRAL TRUST Co now owns 3,000 shares of the transportation company’s stock valued at $64,000 after buying an additional 900 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Aircastle by 45.5% during the 3rd quarter. SG Americas Securities LLC now owns 7,491 shares of the transportation company’s stock valued at $168,000 after buying an additional 2,342 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of Aircastle during the 2nd quarter valued at $210,000. Institutional investors and hedge funds own 57.26% 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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