AeroCentury Corp: The (Stock) Price Is Right, But Are There Catalysts?

Rupert Hargreaves

Published onNovember 21, 2013

AeroCentury Corp. (NYSEMKT:ACY) is involved in the defensive and cash generative business of aircraft leasing. Unfortunately, the company only leases to regional carries and its fleet is relatively underdeveloped compared to most of its peers. For example, the company owns 9 Bombardier Dash-8-300s, 7 Fokker 100s, 3 Bombardier Dash-8-Q400s, and 13 Fokker 50 aircraft. The 7 Fokker 100s are the only jet-powered aircraft in the fleet. Aero has a current market capitalization of $25.4 million and an average daily volume of 4,500 shares.

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AeroCentury’s balance sheet

AeroCentury Corp. (NYSEMKT:ACY) does not have the best balance sheet in the world due to the high acquisition costs of aircraft. According to the company's last reported fiscal quarter, Aero had a debt-to-equity ratio of 137% and...

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Rupert Hargreaves

Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for Hedge Fund Alpha

AeroCentury Corp: The (Stock) Price Is Right, But Are There Catalysts?

AeroCentury’s balance sheet

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