FTAI Aviation (NASDAQ:FTAI) Shares Gap Up After Strong Earnings

Key Points

• FTAI Aviation shares jumped 11.9%, opening at $184.98 after the company reported quarterly EPS of $1.43, beating the $1.31 analyst consensus. Revenue reached $977.66 million, up 46.6% year over year.
• Analyst sentiment remains positive overall, with eight Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $304.38, despite several recent target reductions.
• Institutional investors own 88.96% of the company, while President David Moreno purchased roughly $498,000 worth of shares, increasing his ownership by 1.26%.

Shares of FTAI Aviation Ltd. (NASDAQ:FTAI - Get Free Report) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $167.14, but opened at $184.98. FTAI Aviation shares last traded at $184.70, with a volume of 379,130 shares.

The financial services provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.12. The company had revenue of $977.66 million for the quarter. FTAI Aviation had a return on equity of 139.59% and a net margin of 15.94%. The company's revenue for the quarter was up 46.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 EPS.

Analyst Ratings Changes

FTAI has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and set a $325.00 price target on shares of FTAI Aviation in a research note on Sunday, August 2nd. Royal Bank Of Canada reduced their price target on FTAI Aviation from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Wednesday. Weiss Ratings downgraded FTAI Aviation from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. BTIG Research dropped their price objective on FTAI Aviation from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Finally, Citizens Jmp assumed coverage on FTAI Aviation in a research report on Wednesday, July 15th. They issued a "market outperform" rating and a $375.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $304.38.

Insider Buying and Selling at FTAI Aviation

In related news, President David Moreno acquired 2,475 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $201.27 per share, for a total transaction of $498,143.25. Following the purchase, the president directly owned 199,490 shares in the company, valued at $40,151,352.30. This represents a 1.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.35% of the stock is currently owned by corporate insiders.

Institutional Trading of FTAI Aviation

Several hedge funds have recently added to or reduced their stakes in the business. Baird Financial Group Inc. grew its stake in shares of FTAI Aviation by 619.2% in the 2nd quarter. Baird Financial Group Inc. now owns 89,672 shares of the financial services provider's stock worth $24,259,000 after purchasing an additional 77,203 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in FTAI Aviation during the first quarter valued at approximately $1,313,000. State Street Corp lifted its stake in FTAI Aviation by 2.5% during the second quarter. State Street Corp now owns 3,083,589 shares of the financial services provider's stock valued at $834,203,000 after purchasing an additional 75,452 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in FTAI Aviation during the first quarter worth approximately $7,217,000. Finally, Generate Investment Management Ltd bought a new stake in FTAI Aviation during the third quarter worth approximately $16,703,000. Institutional investors own 88.96% of the company's stock.

FTAI Aviation Stock Up 11.9%

The company has a debt-to-equity ratio of 8.55, a current ratio of 5.28 and a quick ratio of 2.07. The stock has a market capitalization of $19.21 billion, a P/E ratio of 40.67, a PEG ratio of 0.77 and a beta of 1.51. The stock's fifty day moving average is $179.48 and its two-hundred day moving average is $232.60.

FTAI Aviation Company Profile

FTAI Aviation Ltd. is an aviation-focused company that owns, acquires, leases and sells commercial aircraft engines, aircraft and related aviation assets. Its portfolio primarily supports the global narrowbody aircraft market, with a particular focus on widely used engine platforms such as the CFM56 and V2500.

The company provides engine leasing solutions to airlines, aircraft leasing companies and other aviation customers. It also supplies aviation parts and materials and offers maintenance, repair and overhaul-related services.

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