Zacks Investment Research Upgrades AeroCentury Corp. (ACY) to “Buy”
AeroCentury Corp. (NYSEMKT:ACY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $10.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 8.70% from the company’s previous close.
According to Zacks, “AeroCentury Corp. was formed to acquire JetFleet Aircraft, L.P. and JetFleet Aircraft II, L.P., in a statutory merger. The company is an operating lessor and finance company which specializes in leasing used turboprop aircraft and engines. The company’s aircraft and engines are on lease to regional airlines and commercial users in the U.S., Canada, the U.K., South America and Europe. (PRESS RELEASE) “
Separately, TheStreet raised AeroCentury Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th.
Shares of AeroCentury Corp. (NYSEMKT:ACY) opened at 9.245 on Tuesday. The company has a market cap of $14.48 million, a price-to-earnings ratio of 3.329 and a beta of 0.15. The stock has a 50 day moving average of $9.13 and a 200 day moving average of $9.17. AeroCentury Corp. has a 1-year low of $8.50 and a 1-year high of $14.88.
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AeroCentury Corp. Company Profile
AeroCentury Corp. acquires used regional aircraft and aircraft engines for lease to regional carriers all over the world. The Company’s segment is leasing of regional aircraft to foreign and domestic regional airlines. The business of the Company is managed by JetFleet Management Corp. (JMC), an integrated aircraft management, marketing and financing business.
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