TD Cowen Cuts Air Lease (NYSE:AL) Price Target to $56.00

Air Lease (NYSE:AL) had its price objective lowered by TD Cowen from $59.00 to $56.00 in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has a buy rating on the transportation company’s stock.

Other analysts have also recently issued research reports about the company. Barclays increased their target price on Air Lease from $48.00 to $55.00 and gave the company an overweight rating in a research report on Tuesday, April 16th. StockNews.com lowered Air Lease from a buy rating to a hold rating in a research note on Friday, March 29th. Finally, BMO Capital Markets boosted their target price on shares of Air Lease from $54.00 to $55.00 and gave the stock an outperform rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $53.80.

Air Lease Stock Down 7.3 %

NYSE:AL opened at $47.80 on Tuesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.40 and a quick ratio of 0.40. Air Lease has a 1-year low of $33.33 and a 1-year high of $52.31. The company has a 50-day moving average of $48.09 and a 200 day moving average of $42.61. The firm has a market cap of $5.32 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.64 and a beta of 1.63.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, May 6th. The transportation company reported $0.87 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.43). Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The business had revenue of $663.31 million during the quarter, compared to the consensus estimate of $677.26 million. During the same quarter in the prior year, the firm posted $1.06 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Air Lease will post 6.22 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Tuesday, June 4th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, June 4th. Air Lease’s dividend payout ratio is currently 16.31%.

Insider Transactions at Air Lease

In related news, EVP Alex A. Khatibi sold 11,198 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $43.11, for a total value of $482,745.78. Following the completion of the transaction, the executive vice president now directly owns 87,499 shares of the company’s stock, valued at approximately $3,772,081.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO John L. Plueger sold 28,515 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $40.06, for a total transaction of $1,142,310.90. Following the sale, the chief executive officer now directly owns 808,842 shares of the company’s stock, valued at $32,402,210.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex A. Khatibi sold 11,198 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $43.11, for a total value of $482,745.78. Following the completion of the transaction, the executive vice president now directly owns 87,499 shares in the company, valued at $3,772,081.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,646 shares of company stock worth $3,705,152. Insiders own 6.64% of the company’s stock.

Institutional Trading of Air Lease

Large investors have recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in shares of Air Lease in the first quarter worth about $31,000. Neo Ivy Capital Management acquired a new position in Air Lease in the 3rd quarter worth approximately $40,000. Quantbot Technologies LP acquired a new stake in Air Lease during the 3rd quarter valued at approximately $48,000. Hexagon Capital Partners LLC boosted its holdings in shares of Air Lease by 1,341.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Air Lease in the fourth quarter worth $77,000. Hedge funds and other institutional investors own 94.59% 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 aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.