Fly Leasing Limited (FLY) Rating Increased to Hold at Zacks Investment Research

Fly Leasing Limited (NYSE:FLY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Fly Leasing Limited, formerly known as Babcock & Brown Air Limited, is engaged in acquiring and leasing modern, high-demand and fuel-efficient commercial jet aircraft under long-term contracts to a diverse group of airlines throughout the world. The Company’s strategy is to effectively manage its fleet and grow its portfolio through accretive acquisitions of aircraft. FLY Leasing is managed and serviced by BBAM L.P., an aircraft leasing company. BBAM acts as manager of FLY Leasing and servicer of the aircraft portfolio under multi-year management and servicing agreements. In addition to arranging for the leasing of the fleet, BBAM assists in the acquiring and disposing of aircraft, marketeering aircraft for lease and release, collecting rents and other payments from the lessees of aircraft, monitoring maintenance, insurance and other obligations under leases, and enforcing FLY Leasing’s rights against lessees. BBAM is an independent company. FLY Leasing Limited is headquartered in Dublin, Ireland. “

A number of other analysts have also commented on the company. ValuEngine lowered Fly Leasing Limited from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Compass Point reaffirmed a “buy” rating and set a $19.00 price objective (up previously from $17.00) on shares of Fly Leasing Limited in a research note on Tuesday, October 3rd. Cowen Inc reaffirmed a “buy” rating and set a $16.00 price objective on shares of Fly Leasing Limited in a research note on Tuesday, September 19th. Finally, BidaskClub lowered Fly Leasing Limited from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Fly Leasing Limited has a consensus rating of “Buy” and an average target price of $18.00.

Shares of Fly Leasing Limited (NYSE:FLY) opened at $13.55 on Wednesday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $388.28, a price-to-earnings ratio of 11.56, a P/E/G ratio of 2.59 and a beta of 1.10. Fly Leasing Limited has a 52 week low of $11.91 and a 52 week high of $14.65.

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Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in Fly Leasing Limited in the 3rd quarter worth about $102,000. Ameriprise Financial Inc. boosted its stake in Fly Leasing Limited by 6.7% in the 1st quarter. Ameriprise Financial Inc. now owns 12,994 shares of the transportation company’s stock worth $170,000 after buying an additional 817 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in Fly Leasing Limited by 31.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 17,394 shares of the transportation company’s stock worth $228,000 after buying an additional 4,163 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Fly Leasing Limited by 27.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 22,481 shares of the transportation company’s stock worth $315,000 after buying an additional 4,798 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in Fly Leasing Limited in the 1st quarter worth about $349,000. 44.66% of the stock is currently owned by institutional investors and hedge funds.

About Fly Leasing Limited

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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