Fly Leasing (NYSE:FLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $12.00 price target on the transportation company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.60% from the company’s previous close.

According to Zacks, “Fly Leasing Limited, formerly known as Babcock & Brown Air Limited, is engaged in acquiring and leasing modern, high-demand and fuel-efficient commercial jet aircraft under long-term contracts to a diverse group of airlines throughout the world. The Company’s strategy is to effectively manage its fleet and grow its portfolio through accretive acquisitions of aircraft. FLY Leasing is managed and serviced by BBAM L.P., an aircraft leasing company. BBAM acts as manager of FLY Leasing and servicer of the aircraft portfolio under multi-year management and servicing agreements. In addition to arranging for the leasing of the fleet, BBAM assists in the acquiring and disposing of aircraft, marketeering aircraft for lease and release, collecting rents and other payments from the lessees of aircraft, monitoring maintenance, insurance and other obligations under leases, and enforcing FLY Leasing’s rights against lessees. BBAM is an independent company. FLY Leasing Limited is headquartered in Dublin, Ireland. “

Separately, ValuEngine upgraded Fly Leasing from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.88.

Shares of FLY opened at $10.85 on Thursday. The firm has a market capitalization of $311.40 million, a P/E ratio of 120.56 and a beta of 1.02. Fly Leasing has a 52-week low of $10.42 and a 52-week high of $15.32. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 4.44.

Fly Leasing (NYSE:FLY) last issued its quarterly earnings results on Thursday, November 8th. The transportation company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.28. The company had revenue of $104.60 million during the quarter, compared to the consensus estimate of $100.68 million. Fly Leasing had a return on equity of 11.41% and a net margin of 15.32%. Fly Leasing’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the company earned ($0.34) earnings per share. On average, sell-side analysts anticipate that Fly Leasing will post 2.68 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. bought a new stake in shares of Fly Leasing during the third quarter worth $114,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Fly Leasing during the third quarter worth $218,000. ClariVest Asset Management LLC bought a new stake in shares of Fly Leasing during the third quarter worth $251,000. Monarch Partners Asset Management LLC lifted its position in shares of Fly Leasing by 18.8% during the fourth quarter. Monarch Partners Asset Management LLC now owns 85,440 shares of the transportation company’s stock worth $902,000 after purchasing an additional 13,550 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Fly Leasing by 109.4% during the third quarter. JPMorgan Chase & Co. now owns 64,187 shares of the transportation company’s stock worth $905,000 after purchasing an additional 33,536 shares during the last quarter. Institutional investors and hedge funds own 49.22% of the company’s stock.

About Fly Leasing

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in DĂșn Laoghaire, Ireland.

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