Aercap (NYSE:AER) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded AerCap (NYSE:AER) from hold to strong-buy, adding to a broadly positive analyst backdrop for the stock.
• Other firms also remained constructive: Citigroup initiated coverage with a buy rating and a $173 target, while Barclays and Truist raised their price targets. Overall, AerCap now has a consensus Buy rating and an average target price of $168.67.
• The company recently reported $5.39 EPS on $2.30 billion in revenue and authorized a $1 billion share buyback, a move that may signal management sees the stock as undervalued.

Aercap (NYSE:AER - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages have also commented on AER. Citigroup began coverage on Aercap in a research note on Monday. They issued a "buy" rating and a $173.00 price target on the stock. Morgan Stanley reduced their target price on shares of Aercap from $160.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 30th. Weiss Ratings raised shares of Aercap from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, July 8th. Truist Financial lifted their price target on shares of Aercap from $161.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Finally, Barclays upped their price objective on shares of Aercap from $164.00 to $179.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Aercap presently has a consensus rating of "Buy" and an average target price of $168.67.

Aercap Stock Performance

NYSE AER opened at $151.59 on Monday. Aercap has a twelve month low of $105.65 and a twelve month high of $155.99. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 2.34. The stock has a market cap of $25.30 billion, a P/E ratio of 6.64, a PEG ratio of 1.03 and a beta of 0.94. The company's 50-day simple moving average is $143.27 and its 200 day simple moving average is $143.23.

Aercap (NYSE:AER - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $5.39 EPS for the quarter. Aercap had a net margin of 45.22% and a return on equity of 16.01%. The firm had revenue of $2.30 billion during the quarter. As a group, research analysts forecast that Aercap will post 17.39 earnings per share for the current fiscal year.

Aercap declared that its board has initiated a share buyback plan on Wednesday, April 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Aercap

A number of hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC lifted its position in shares of Aercap by 19.0% during the first quarter. Integrated Wealth Concepts LLC now owns 2,649 shares of the financial services provider's stock worth $271,000 after purchasing an additional 423 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Aercap by 282.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,659 shares of the financial services provider's stock worth $680,000 after purchasing an additional 4,919 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Aercap by 26.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider's stock worth $46,000 after buying an additional 94 shares in the last quarter. Invesco Ltd. boosted its position in Aercap by 43.3% in the 2nd quarter. Invesco Ltd. now owns 459,459 shares of the financial services provider's stock valued at $53,757,000 after buying an additional 138,843 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Aercap by 59.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the financial services provider's stock valued at $134,000 after buying an additional 425 shares during the period. Institutional investors own 96.42% of the company's stock.

Aercap Company Profile

AerCap Holdings N.V. NYSE: AER is a global aircraft leasing and aviation finance company that acquires, leases, sells and manages commercial aircraft and engines. Its core services include operating leases, finance leases, sale-and-leaseback transactions, aircraft trading and remarketing, and asset management for airline customers. The company also provides related commercial and technical support services designed to optimize fleet utilization and residual values over the life cycle of aircraft and engines.

Operating with a broad global footprint, AerCap serves airlines and other aviation customers across North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

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