Fly Leasing Ltd. (NYSE:FLY) reached a new 52-week low on Wednesday . The company traded as low as $9.54 and last traded at $9.94, with a volume of 157,811 shares. The stock had previously closed at $9.79.

FLY has been the topic of a number of analyst reports. Zacks Investment Research lowered Fly Leasing from a “hold” rating to a “sell” rating in a report on Monday, June 20th. Citigroup Inc. increased their price objective on Fly Leasing from $15.00 to $20.50 and gave the company a “buy” rating in a report on Tuesday, March 15th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Fly Leasing in a report on Thursday, May 19th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Fly Leasing has an average rating of “Hold” and an average target price of $16.92.

The firm has a market cap of $333.30 million and a PE ratio of 42.76. The stock’s 50 day moving average price is $10.93 and its 200-day moving average price is $11.93.

Fly Leasing (NYSE:FLY) last posted its earnings results on Wednesday, May 18th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.03. During the same period last year, the firm posted $0.41 earnings per share. The business earned $81.20 million during the quarter, compared to analysts’ expectations of $92.73 million. The company’s revenue for the quarter was down 34.1% on a year-over-year basis. On average, equities research analysts forecast that Fly Leasing Ltd. will post $1.50 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors have bought and sold shares of the stock. GSA Capital Partners LLP raised its stake in shares of Fly Leasing by 53.7% in the fourth quarter. GSA Capital Partners LLP now owns 79,561 shares of the company’s stock worth $1,086,000 after buying an additional 27,812 shares during the period. Bank of Montreal Can raised its stake in shares of Fly Leasing by 74.8% in the fourth quarter. Bank of Montreal Can now owns 129,005 shares of the company’s stock worth $1,761,000 after buying an additional 55,194 shares during the period. US Bancorp DE raised its stake in shares of Fly Leasing by 24.5% in the fourth quarter. US Bancorp DE now owns 538,836 shares of the company’s stock worth $7,355,000 after buying an additional 106,206 shares during the period. SFE Investment Counsel raised its stake in shares of Fly Leasing by 3.3% in the fourth quarter. SFE Investment Counsel now owns 653,191 shares of the company’s stock worth $8,916,000 after buying an additional 20,958 shares during the period. Finally, Donald Smith & CO. Inc. raised its stake in shares of Fly Leasing by 12.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,445,297 shares of the company’s stock worth $19,728,000 after buying an additional 154,862 shares during the period.

Fly Leasing Limited (Fly) is engaged in purchasing commercial aircraft which it leases under multi-year contracts to a range of airlines throughout the world. As of December 31, 2014, the Company’s aircraft portfolio consisted of 127 commercial jet aircraft, consisting of 116 narrow-body passenger aircraft, including two freighters, and 11 wide-body passenger aircraft.

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