Aircastle Limited (NYSE:AYR)

CAPS Rating: 4 out of 5

A global company that acquires and leases high-utility commercial jet aircraft to passenger and cargo airlines throughout the world.

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Member Avatar JaysRage (89.44) Submitted: 7/30/2015 12:09:55 PM : Outperform Start Price: $22.39 AYR Score: +7.13

AYR is attractive as a business for a number of different reasons at the current time.

1) Management -- I am very impressed with the management of the company. They have a deep understanding of the economics of the sector that they work in and they are opportunistic in capitalizing on the opportunities are available. Management has quickly and effectively decreased risk exposure over the past couple of quarters, profitably removing their exposure to the volatile Russian market. This might not have been as easy in different market conditions, but their execution has been impressive.

2) Quality Assets -- This again speaks to quality decision-making by management, but AYR has been able to decrease the age of their fleet dramatically and shift from lower profit freighters to higher profit passenger planes in the past few years, allowing for a higher quality asset base with a more favorable ROIC.

3) Asset Deployment -- AYR has been aggressively locking down long term leases in a favorable rate environment. This actually decreases short-term profitability, but it increases long-term profitability and decreases volatility and risk.

4) Favorable Environment -- Low oil prices appear to be here for an extended period. It is not difficult to see an industry expansion after a long period of consolidation, driving demand. AYR is already well-positioned, but this will continue to allow them to grow and expand profitable business.

5) Dividend -- AYR pays a strong dividend with a yield near 4%. With a company that has a long-term approach to value, I find this to be a positive attribute. I do not always feel that a dividend is in the best interest of the company, but in the case of AYR, I feel it is a positive.

6) Value -- AYR is currently trading at approximate book value (5.8 billion in assets....4 billion in debt....1.8 billion market cap). Asset values are slightly inflated in a favorable economic environment, but I feel that the economic environment continues to improve.

I estimate AYR value to be in the range of 28.37 to 33.67 and I see this as a possibility for a long term hold as well. I am extremely impressed by the management team, and there is reason to believe that this company will continue to make great decisions.

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Member Avatar benyboy (< 20) Submitted: 7/29/2015 6:47:11 PM : Outperform Start Price: $22.39 AYR Score: +7.37

Jim

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Member Avatar tvaluehold (52.59) Submitted: 12/8/2014 8:36:36 PM : Outperform Start Price: $20.18 AYR Score: +16.29

fundamentals

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Member Avatar TMFGemHunter (60.96) Submitted: 9/22/2014 12:20:49 PM : Outperform Start Price: $16.70 AYR Score: +38.37

Aircastle is a great stock for value investors. Not only is it cheap, but it's also the value investor of its own field: aircraft leasing. Aircastle find undervalued, under-appreciated planes, buys them, and then leases them to one of its many clients across the globe. This allows it to keep CapEx manageable and ROIC high. It also pays a very nice dividend!

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Member Avatar Eli4Prez (41.89) Submitted: 9/28/2012 5:42:57 PM : Outperform Start Price: $9.86 AYR Score: +84.88

Please stay below $12.00 so I can continue to gobble up cheap shares with a 5% dividend, a P/E under 8 (lower than competitors), 6 consecutive positive surprise earnings, a rising net balance sheet, and investment companies done with their secondary offering. I will buy this all day long under $12.00.

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Member Avatar Kokubu (< 20) Submitted: 2/21/2012 10:55:17 AM : Outperform Start Price: $11.55 AYR Score: +55.28

Aircraft leasing company with diversified (worldwide) clientele with limited exposure to European market; small cap with positive profit margins with greater opportunity for growth; quarterly dividend with acceptable yield and history of repurchasing shares.

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Member Avatar Distressedstar (< 20) Submitted: 2/8/2012 11:44:52 PM : Outperform Start Price: $11.90 AYR Score: +46.85

.2

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Member Avatar InvestorCent21 (< 20) Submitted: 11/19/2010 3:18:48 PM : Outperform Start Price: $7.96 AYR Score: +127.04

This stock has a big buying interest anf good volume. I will put this stock in my watch list to invest in it.

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Member Avatar dunloggin (61.54) Submitted: 9/13/2010 12:14:53 PM : Outperform Start Price: $7.09 AYR Score: +152.16

dividend payer.

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Member Avatar JustHanginOut (53.50) Submitted: 5/20/2010 12:03:56 PM : Outperform Start Price: $7.79 AYR Score: +115.04

Definitely a floor here somewhere with the stock trading well below book value and spitting out a 4% dividend. CEO seems like a smart guy and a straight shooter.

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Member Avatar thebamoor (32.82) Submitted: 4/26/2010 5:35:40 PM : Outperform Start Price: $9.53 AYR Score: +78.21

GS_PCF

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Member Avatar lamborghini222 (< 20) Submitted: 4/9/2010 6:35:06 PM : Outperform Start Price: $7.50 AYR Score: +141.83

They've been doing really well for me. They've gone up over 13 points and over 15 percent since I picked them 3 weeks ago

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Member Avatar hou71372 (< 20) Submitted: 4/7/2010 3:11:40 PM : Outperform Start Price: $8.53 AYR Score: +103.83

.65 Price to Book, Low forward p/e, price will rise in scale to recovery

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Member Avatar azpcj (< 20) Submitted: 4/5/2010 9:08:57 AM : Underperform Start Price: $7.69 AYR Score: -135.24

Oil prices and inflation

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Member Avatar detroitigerz (< 20) Submitted: 3/11/2010 3:58:40 PM : Outperform Start Price: $8.16 AYR Score: +112.84

.65 price to book ratio. will definitely go up.

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Member Avatar lllchicalll (80.06) Submitted: 2/8/2010 4:02:31 PM : Outperform Start Price: $6.92 AYR Score: +151.16

chk999

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Member Avatar jtallenmd (99.77) Submitted: 12/4/2009 8:16:26 PM : Outperform Start Price: $7.39 AYR Score: +136.01

This is selling for less than book value. Even if I assume flat growth, I calculate an intrinsic value of close to $30.

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Member Avatar awallejr (71.56) Submitted: 11/19/2009 2:51:06 PM : Outperform Start Price: $7.19 AYR Score: +143.14

As the global economy recovers this stock will follow. Eventually you will see higher dividends as well.

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Member Avatar mikehelin (< 20) Submitted: 11/10/2009 10:47:13 AM : Outperform Start Price: $6.67 AYR Score: +168.25

Smartest guys in the leaseing business

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Member Avatar scoobydoobyfool (< 20) Submitted: 10/31/2009 1:57:46 AM : Outperform Start Price: $6.19 AYR Score: +186.51

It's a solid company that can grow, and as the world's economy improves, so will the share price.

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