AerCap (NYSE:AER) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of AerCap (NYSE:AER) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $58.00 price objective on the financial services provider’s stock.

According to Zacks, “AERCAP HOLDINGS is an integrated global aviation company with a leading market position in aircraft and engine leasing, trading and parts sales.They also provides aircraft management services and performs aircraft and engine maintenance, repair and overhaul services and aircraft disassemblies through its certified repair stations. “

A number of other research firms also recently weighed in on AER. Citigroup set a $61.00 target price on AerCap and gave the stock a hold rating in a research report on Wednesday, July 31st. Cowen lifted their price objective on AerCap from $56.00 to $60.00 and gave the company an outperform rating in a report on Tuesday, July 30th. Finally, Compass Point lifted their price objective on AerCap from $69.00 to $73.00 and gave the company a buy rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $60.43.

AER stock opened at $54.25 on Wednesday. AerCap has a twelve month low of $36.16 and a twelve month high of $56.76. The company has a market cap of $7.23 billion, a PE ratio of 7.05 and a beta of 1.81. The business’s 50-day simple moving average is $54.07 and its 200 day simple moving average is $50.80. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 3.20.

AerCap (NYSE:AER) last released its earnings results on Tuesday, July 30th. The financial services provider reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.70. AerCap had a return on equity of 11.85% and a net margin of 21.79%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the business earned $1.70 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that AerCap will post 7.8 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AER. FMR LLC boosted its holdings in AerCap by 109.7% during the first quarter. FMR LLC now owns 4,468,554 shares of the financial services provider’s stock valued at $207,967,000 after purchasing an additional 2,337,628 shares in the last quarter. APG Asset Management N.V. acquired a new stake in AerCap during the second quarter valued at approximately $25,537,000. Nuveen Asset Management LLC acquired a new stake in AerCap during the second quarter valued at approximately $14,388,000. Marshall Wace LLP acquired a new stake in AerCap during the second quarter valued at approximately $7,025,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in AerCap during the second quarter valued at approximately $6,953,000. 86.39% of the stock is currently owned by institutional investors.

About AerCap

AerCap Holdings N.V., an aircraft leasing company, engages in the lease, financing, sale, and management of commercial aircraft and engines in China, the United States, Ireland, and internationally. The company offers aircraft asset management services, including remarketing aircraft; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft; and conducting ongoing lessee financial performance reviews.

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