Fly Leasing (NYSE: FLY) was upgraded by research analysts at TheStreet from a “sell” rating to a “hold” rating in a report released on Tuesday.

The analysts wrote, “Fly Leasing Ltd. ADR (FLY) has been upgraded by TheStreet Ratings from sell to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet.”

Fly Leasing opened at 14.68 on Tuesday. Fly Leasing has a 1-year low of $11.06 and a 1-year high of $14.99. The stock’s 50-day moving average is currently $13.45. The company has a market cap of $411.6 million and a price-to-earnings ratio of 8.16.

Fly Leasing last announced its earnings results on Thursday, March 7th. The company reported $2.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $1.30. The company had revenue of $130.87 million for the quarter, compared to the consensus estimate of $105.36 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. Analysts expect that Fly Leasing will post $2.18 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on FLY. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Fly Leasing in a research note to investors on Friday. They now have a $17.00 price target on the stock. Separately, analysts at Bank of America reiterated an “underperform” rating on shares of Fly Leasing in a research note to investors on Friday. They now have a $10.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Fly Leasing from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, March 1st. They now have a $13.00 price target on the stock.

Four investment analysts have rated the stock with a buy rating, one has issued a hold rating, and one has given an underweight rating to the stock. The company has an average rating of “overweight” and a consensus price target of $14.18.

Fly Leasing Limited, formerly Babcock & Brown Air Limited (B&B Air), is a global lessor of modern, fuel-efficient commercial jet aircraft.

To view TheStreet’s full report, visit www.thestreetratings.com

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