Ryanair (NASDAQ:RYAAY) Reaches New 52-Week High on Earnings Beat

Ryanair Holdings PLC (NASDAQ:RYAAY)’s share price reached a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $60.01 and last traded at $59.86, with a volume of 2355425 shares. The stock had previously closed at $56.15.

The transportation company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.53. Ryanair had a return on equity of 21.35% and a net margin of 11.79%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RYAAY. Raymond James Financial reissued a “strong-buy” rating on shares of Ryanair in a research note on Wednesday, July 2nd. Oddo Bhf raised Ryanair from an “underperform” rating to an “outperform” rating in a research note on Wednesday, July 16th. Wall Street Zen raised Ryanair from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Sanford C. Bernstein reissued an “outperform” rating on shares of Ryanair in a research note on Wednesday, May 21st. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Ryanair in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $108.50.

Institutional Investors Weigh In On Ryanair

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. increased its holdings in shares of Ryanair by 2.6% in the first quarter. Avantax Advisory Services Inc. now owns 8,094 shares of the transportation company’s stock worth $343,000 after acquiring an additional 206 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Ryanair by 2.4% in the fourth quarter. Vident Advisory LLC now owns 10,006 shares of the transportation company’s stock worth $436,000 after acquiring an additional 230 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Ryanair by 0.3% in the first quarter. SG Americas Securities LLC now owns 85,781 shares of the transportation company’s stock worth $3,635,000 after acquiring an additional 240 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Ryanair by 13.2% in the first quarter. GAMMA Investing LLC now owns 2,278 shares of the transportation company’s stock worth $97,000 after acquiring an additional 265 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Ryanair by 39.8% in the first quarter. CWM LLC now owns 1,191 shares of the transportation company’s stock worth $50,000 after acquiring an additional 339 shares in the last quarter. Institutional investors own 43.66% of the company’s stock.

Ryanair Stock Up 6.6%

The firm has a fifty day simple moving average of $55.96 and a 200-day simple moving average of $49.19. The company has a market capitalization of $31.77 billion, a P/E ratio of 17.57, a P/E/G ratio of 0.97 and a beta of 1.38. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.24.

Ryanair Company Profile

Ryanair Holdings plc, together with its subsidiaries, provides scheduled-passenger airline services in Ireland, the United Kingdom, Italy, Spain, and internationally. It is also involved in the provision of various ancillary services, such as non-flight scheduled and Internet-related services, as well as in-flight sale of beverages, food, duty-free, and merchandise; and markets car hire, travel insurance, and accommodation services through its website and mobile app.