Fly Leasing (FLY) Upgraded to “Buy” by ValuEngine

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Fly Leasing (NYSE:FLY) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday, May 29th.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Fly Leasing from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. JPMorgan Chase & Co. boosted their price target on Fly Leasing from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Tuesday, March 6th. Finally, Royal Bank of Canada boosted their price target on Fly Leasing to $30.00 and gave the company an “outperform” rating in a research note on Monday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Fly Leasing has an average rating of “Hold” and an average target price of $17.92.

Shares of NYSE FLY opened at $14.15 on Tuesday. Fly Leasing has a twelve month low of $11.54 and a twelve month high of $14.97. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $404.64 million, a price-to-earnings ratio of 157.22, a price-to-earnings-growth ratio of 0.63 and a beta of 0.93.

Fly Leasing (NYSE:FLY) last posted its earnings results on Thursday, May 3rd. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.35 by $0.09. Fly Leasing had a return on equity of 3.02% and a net margin of 1.98%. The company had revenue of $88.76 million for the quarter, compared to the consensus estimate of $87.16 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. analysts anticipate that Fly Leasing will post 2.24 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC lifted its stake in Fly Leasing by 35.0% during the fourth quarter. Virtu Financial LLC now owns 17,173 shares of the transportation company’s stock worth $222,000 after purchasing an additional 4,451 shares during the last quarter. California Public Employees Retirement System lifted its stake in Fly Leasing by 5.0% during the fourth quarter. California Public Employees Retirement System now owns 117,320 shares of the transportation company’s stock worth $1,515,000 after purchasing an additional 5,542 shares during the last quarter. Aperio Group LLC lifted its stake in Fly Leasing by 6.4% during the fourth quarter. Aperio Group LLC now owns 98,432 shares of the transportation company’s stock worth $1,271,000 after purchasing an additional 5,920 shares during the last quarter. Uniplan Investment Counsel Inc. lifted its stake in Fly Leasing by 1.5% during the first quarter. Uniplan Investment Counsel Inc. now owns 543,957 shares of the transportation company’s stock worth $7,240,000 after purchasing an additional 7,815 shares during the last quarter. Finally, Monarch Partners Asset Management LLC lifted its stake in Fly Leasing by 35.0% during the fourth quarter. Monarch Partners Asset Management LLC now owns 46,140 shares of the transportation company’s stock worth $596,000 after purchasing an additional 11,950 shares during the last quarter. Hedge funds and other institutional investors own 47.75% of the company’s stock.

Fly Leasing Company Profile

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in Dún Laoghaire, Ireland.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Fly Leasing (NYSE:FLY)

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