ValuEngine cut shares of Air Lease (NYSE:AL) from a buy rating to a hold rating in a research note released on Wednesday morning.
Other equities analysts have also issued reports about the company. Morgan Stanley boosted their price target on Air Lease from $47.00 to $48.00 and gave the company an equal weight rating in a research note on Thursday, April 12th. UBS restated a sell rating and set a $32.00 price target (up from $31.00) on shares of Air Lease in a research note on Wednesday, February 21st. Macquarie initiated coverage on Air Lease in a research note on Tuesday, March 13th. They set an outperform rating on the stock. Zacks Investment Research lowered Air Lease from a buy rating to a hold rating in a research note on Tuesday, March 27th. Finally, Bank of America upgraded Air Lease from a neutral rating to a buy rating and set a $56.00 price target on the stock in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $53.35.
Shares of NYSE:AL opened at $43.95 on Wednesday. Air Lease has a fifty-two week low of $35.61 and a fifty-two week high of $50.70. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.88 and a beta of 1.72. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.34.
Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, May 10th. The transportation company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.05. Air Lease had a return on equity of 11.03% and a net margin of 50.86%. The business had revenue of $381.20 million during the quarter, compared to analysts’ expectations of $379.74 million. During the same quarter in the previous year, the firm earned $1.33 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. analysts predict that Air Lease will post 4.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Tuesday, June 5th will be paid a $0.10 dividend. The ex-dividend date is Monday, June 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.91%. Air Lease’s dividend payout ratio is currently 10.96%.
In other news, insider Steven F. Udvar-Hazy sold 30,363 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $44.25, for a total value of $1,343,562.75. Following the sale, the insider now directly owns 959,175 shares in the company, valued at approximately $42,443,493.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kishore Korde sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $44.33, for a total value of $88,660.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,077 shares of company stock worth $3,487,887. Corporate insiders own 9.32% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. EJF Capital LLC bought a new stake in Air Lease during the 1st quarter worth approximately $16,409,000. Boston Partners grew its position in Air Lease by 2.9% during the 1st quarter. Boston Partners now owns 8,555,116 shares of the transportation company’s stock worth $364,619,000 after acquiring an additional 239,216 shares during the last quarter. Millennium Management LLC bought a new stake in Air Lease during the 1st quarter worth approximately $9,327,000. Two Sigma Investments LP grew its position in Air Lease by 196.4% during the 4th quarter. Two Sigma Investments LP now owns 278,917 shares of the transportation company’s stock worth $13,413,000 after acquiring an additional 184,821 shares during the last quarter. Finally, LSV Asset Management grew its position in Air Lease by 27.7% during the 1st quarter. LSV Asset Management now owns 546,783 shares of the transportation company’s stock worth $23,303,000 after acquiring an additional 118,600 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.
Air Lease Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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