Brokerages Set Air Lease Co. (NYSE:AL) PT at $53.80

Air Lease Co. (NYSE:AL) has received a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.80.

Several brokerages have commented on AL. StockNews.com cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. BMO Capital Markets boosted their target price on Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. TD Cowen cut their price target on Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Barclays upped their price objective on Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th.

Insider Transactions at Air Lease

In related news, EVP Kishore Korde sold 16,593 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.70, for a total value of $658,742.10. Following the completion of the sale, the executive vice president now directly owns 112,375 shares in the company, valued at $4,461,287.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Air Lease news, EVP Kishore Korde sold 16,593 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.70, for a total transaction of $658,742.10. Following the completion of the transaction, the executive vice president now owns 112,375 shares in the company, valued at $4,461,287.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex A. Khatibi sold 11,199 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.37, for a total value of $530,496.63. Following the completion of the sale, the executive vice president now owns 76,300 shares in the company, valued at $3,614,331. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,646 shares of company stock worth $3,705,152. 6.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Air Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bfsg LLC purchased a new stake in Air Lease in the fourth quarter worth about $869,000. Jump Financial LLC purchased a new position in Air Lease during the third quarter valued at approximately $1,256,000. Natixis Advisors L.P. increased its holdings in Air Lease by 0.6% during the third quarter. Natixis Advisors L.P. now owns 186,241 shares of the transportation company’s stock valued at $7,340,000 after buying an additional 1,049 shares during the period. Russell Investments Group Ltd. lifted its holdings in Air Lease by 5.6% during the fourth quarter. Russell Investments Group Ltd. now owns 722,143 shares of the transportation company’s stock worth $30,287,000 after buying an additional 38,302 shares during the period. Finally, Ellis Investment Partners LLC boosted its position in Air Lease by 1.7% during the 4th quarter. Ellis Investment Partners LLC now owns 72,256 shares of the transportation company’s stock valued at $3,030,000 after acquiring an additional 1,209 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Up 1.7 %

Shares of AL opened at $49.78 on Tuesday. The business’s 50 day moving average is $48.47 and its 200 day moving average is $42.71. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68. Air Lease has a 12-month low of $33.33 and a 12-month high of $52.31. The company has a market capitalization of $5.54 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.64 and a beta of 1.63.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.54). Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The company had revenue of $663.31 million for the quarter, compared to the consensus estimate of $677.26 million. During the same quarter in the previous year, the business earned $1.06 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Research analysts expect that Air Lease will post 6.22 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, June 4th. Air Lease’s payout ratio is 16.31%.

About Air Lease

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.