D.A. Davidson Reiterates a Buy Rating on Aircastle Limited

By Jason Carr

In a report issued on November 4, Arren Cyganovich from D.A. Davidson reiterated a Buy rating on Aircastle Limited (NYSE: AYR), with a price target of $24. The company’s shares closed yesterday at $20.64.

According to TipRanks.com, Cyganovich is a 4-star analyst with an average return of 5.9% and a 63.3% success rate. Cyganovich covers the Financial sector, focusing on stocks such as Fidus Investment Corporation, Pennantpark Investment Corp., and BlackRock Capital Investment.

Currently, the analyst consensus on Aircastle Limited is Moderate Buy and the average price target is $24, representing a 16.3% upside.

In a report issued on November 2, FBR Capital also upgraded the stock to Buy with a $23 price target.

Aircastle Limited’s market cap is currently $1.62B and has a P/E ratio of 12.21. The company has a book value ratio of 0.9092.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is neutral on the stock. Most recently, in September 2016, Joseph Schreiner, the EVP, Tech of AYR sold 4,998 shares for a total of $108,806.

Aircastle Ltd. invests in aviation assets, including acquiring, leasing, managing and selling high-utility commercial jet aircraft. It operates though one segment: leasing, financing, selling and managing commercial flight equipment. The company’s investment objective is to seek out the best risk adjusted return opportunities across the commercial jet market, regardless of aircraft type or investment source. Aircastle was founded on October 29, 2004 and is headquartered in Stamford, CT.