ValuEngine downgraded shares of Fly Leasing (NYSE:FLY) from a buy rating to a hold rating in a research report released on Wednesday, January 3rd.

Several other research analysts have also recently issued reports on FLY. Cowen reissued a buy rating and issued a $16.00 price target on shares of Fly Leasing in a research note on Tuesday, September 19th. Compass Point reissued a buy rating and issued a $19.00 price target (up previously from $17.00) on shares of Fly Leasing in a research note on Tuesday, October 3rd. Zacks Investment Research cut Fly Leasing from a hold rating to a strong sell rating in a research note on Monday, November 13th. Finally, Citigroup started coverage on Fly Leasing in a research note on Friday, December 8th. They issued a sell rating and a $13.50 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Fly Leasing currently has a consensus rating of Hold and an average target price of $17.10.

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Shares of Fly Leasing (NYSE FLY) traded up $0.01 on Wednesday, reaching $13.41. The company had a trading volume of 140,161 shares, compared to its average volume of 134,661. Fly Leasing has a 52-week low of $11.91 and a 52-week high of $14.65. The company has a market cap of $384.55, a P/E ratio of -6.21, a P/E/G ratio of 0.68 and a beta of 1.07. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.18 and a current ratio of 1.18.

Fly Leasing (NYSE:FLY) last released its quarterly earnings results on Thursday, November 9th. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.81). Fly Leasing had a positive return on equity of 6.72% and a negative net margin of 19.77%. The business had revenue of $86.22 million during the quarter, compared to the consensus estimate of $89.36 million. equities analysts predict that Fly Leasing will post 0.17 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Berson & Corrado Investment Advisors LLC boosted its stake in Fly Leasing by 13.6% during the fourth quarter. Berson & Corrado Investment Advisors LLC now owns 214,575 shares of the transportation company’s stock valued at $2,770,000 after buying an additional 25,730 shares in the last quarter. Dalton Greiner Hartman Maher & Co. boosted its stake in Fly Leasing by 48.1% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 236,335 shares of the transportation company’s stock valued at $3,051,000 after buying an additional 76,722 shares in the last quarter. California Public Employees Retirement System boosted its stake in Fly Leasing by 10.0% during the third quarter. California Public Employees Retirement System now owns 111,778 shares of the transportation company’s stock valued at $1,567,000 after buying an additional 10,178 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Fly Leasing by 2.9% during the third quarter. Point72 Asset Management L.P. now owns 292,338 shares of the transportation company’s stock valued at $4,099,000 after buying an additional 8,190 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its stake in Fly Leasing by 6.5% during the third quarter. Uniplan Investment Counsel Inc. now owns 545,990 shares of the transportation company’s stock valued at $7,654,000 after buying an additional 33,231 shares in the last quarter. 45.34% of the stock is owned by institutional investors and hedge funds.

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About Fly Leasing

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.

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

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