Shares of Air Lease Co. (NYSE:AL) have been assigned an average rating of “Buy” from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $51.75.
AL has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Air Lease from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, January 9th. UBS restated a “sell” rating and set a $32.00 target price (up previously from $31.00) on shares of Air Lease in a research report on Wednesday, February 21st. Macquarie initiated coverage on shares of Air Lease in a research report on Tuesday, March 13th. They set an “outperform” rating on the stock. Bank of America upgraded shares of Air Lease from a “neutral” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Friday, March 9th. Finally, Citigroup restated a “hold” rating and set a $49.00 target price on shares of Air Lease in a research report on Wednesday, February 28th.
Shares of AL traded up $0.32 during mid-day trading on Wednesday, reaching $41.84. 494,406 shares of the company’s stock were exchanged, compared to its average volume of 722,301. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.00 and a quick ratio of 1.00. Air Lease has a 52-week low of $34.42 and a 52-week high of $50.70. The stock has a market cap of $4,302.37, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.70.
Air Lease (NYSE:AL) last announced its earnings results on Thursday, February 22nd. The transportation company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.19. Air Lease had a net margin of 49.87% and a return on equity of 10.91%. The firm had revenue of $398.47 million for the quarter, compared to analyst estimates of $380.93 million. During the same quarter last year, the business earned $1.48 earnings per share. Air Lease’s revenue was up 7.6% compared to the same quarter last year. equities analysts expect that Air Lease will post 4.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Tuesday, March 20th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.96%. Air Lease’s dividend payout ratio (DPR) is presently 10.96%.
In other Air Lease news, insider Steven F. Udvar-Hazy sold 30,363 shares of Air Lease stock in a transaction on Friday, March 16th. The shares were sold at an average price of $44.25, for a total value of $1,343,562.75. Following the transaction, the insider now owns 959,175 shares in the company, valued at approximately $42,443,493.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kishore Korde sold 2,000 shares of Air Lease stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the completion of the transaction, the executive vice president now owns 78,976 shares in the company, valued at approximately $3,882,460.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,077 shares of company stock worth $3,781,447. 9.32% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in AL. Calton & Associates Inc. acquired a new position in shares of Air Lease during the 4th quarter valued at $102,000. Zions Bancorporation acquired a new position in shares of Air Lease during the 3rd quarter valued at $114,000. Whittier Trust Co. acquired a new position in shares of Air Lease during the 4th quarter valued at $141,000. Comerica Bank acquired a new position in shares of Air Lease during the 4th quarter valued at $213,000. Finally, Parametrica Management Ltd acquired a new position in shares of Air Lease during the 4th quarter valued at $225,000. Institutional investors own 90.45% of the company’s stock.
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About Air Lease
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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