Air Lease (NYSE:AL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, January 9th. The brokerage presently has a $55.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.04% from the company’s current price.
According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “
Several other research analysts have also recently weighed in on AL. Royal Bank of Canada upped their price target on shares of Air Lease from $79.00 to $80.00 and gave the stock a “top pick” rating in a report on Friday, September 29th. Bank of America set a $47.00 target price on Air Lease and gave the company a “hold” rating in a research note on Thursday, October 19th. Cowen increased their target price on Air Lease from $45.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. UBS Group increased their target price on Air Lease from $30.00 to $31.00 and gave the company a “sell” rating in a research note on Friday, November 10th. Finally, Credit Suisse Group increased their target price on Air Lease from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $49.40.
Shares of Air Lease (AL) traded down $1.10 on Tuesday, reaching $47.81. The company’s stock had a trading volume of 302,280 shares, compared to its average volume of 580,008. The firm has a market cap of $4,960.00, a P/E ratio of 13.73, a PEG ratio of 0.78 and a beta of 1.70. Air Lease has a 52-week low of $34.42 and a 52-week high of $50.70. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.06 and a quick ratio of 1.06.
Air Lease (NYSE:AL) last announced its earnings results on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The firm had revenue of $376.77 million for the quarter, compared to the consensus estimate of $374.61 million. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS. equities research analysts forecast that Air Lease will post 3.46 EPS for the current fiscal year.
In other news, CEO John L. Plueger sold 300,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $41.34, for a total transaction of $12,402,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,057,310 shares in the company, valued at $43,709,195.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kishore Korde sold 2,000 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $49.16, for a total transaction of $98,320.00. Following the sale, the executive vice president now owns 78,976 shares of the company’s stock, valued at $3,882,460.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 379,000 shares of company stock valued at $15,949,790. 9.76% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cedar Hill Associates LLC bought a new position in shares of Air Lease during the second quarter valued at approximately $7,768,000. LSV Asset Management increased its position in shares of Air Lease by 225.9% during the second quarter. LSV Asset Management now owns 266,183 shares of the transportation company’s stock valued at $9,944,000 after acquiring an additional 184,500 shares in the last quarter. UBS Oconnor LLC bought a new stake in shares of Air Lease during the second quarter valued at approximately $6,818,000. Cobalt Capital Management Inc. increased its position in shares of Air Lease by 29.3% during the second quarter. Cobalt Capital Management Inc. now owns 771,629 shares of the transportation company’s stock valued at $28,828,000 after acquiring an additional 175,000 shares in the last quarter. Finally, Boston Partners increased its position in shares of Air Lease by 2.0% during the third quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock valued at $369,267,000 after acquiring an additional 169,454 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.
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About Air Lease
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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