AeroCentury (NYSEAMERICAN:ACY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $11.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.84% from the stock’s previous close.
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) “
Separately, TheStreet downgraded shares of AeroCentury from a “b-” rating to a “c” rating in a report on Thursday, November 15th.
Shares of NYSEAMERICAN:ACY opened at $10.20 on Tuesday. AeroCentury has a 1-year low of $8.36 and a 1-year high of $17.34.
AeroCentury (NYSEAMERICAN:ACY) last issued its earnings results on Wednesday, November 7th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.05. The business had revenue of $7.17 million for the quarter, compared to the consensus estimate of $7.57 million.
AeroCentury Company Profile
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.
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