Air Lease Corporation (NYSE:AL) Receives Average Rating of “Hold” from Analysts

Shares of Air Lease Corporation (NYSE:AL) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $59.60.

A number of equities research analysts recently weighed in on AL shares. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Air Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Finally, Barclays reissued an “equal weight” rating and issued a $65.00 price objective (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th.

Insiders Place Their Bets

In related news, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the completion of the sale, the executive vice president directly owned 50,091 shares of the company’s stock, valued at approximately $3,210,833.10. This trade represents a 29.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Grant A. Levy sold 1,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $64.30, for a total value of $64,300.00. Following the completion of the transaction, the executive vice president directly owned 137,206 shares in the company, valued at approximately $8,822,345.80. This represents a 0.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 595,958 shares of company stock worth $38,158,193 over the last three months. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Air Lease

Institutional investors and hedge funds have recently bought and sold shares of the company. True Wealth Design LLC increased its holdings in Air Lease by 2,980.0% in the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after buying an additional 447 shares during the period. Mather Group LLC. acquired a new stake in shares of Air Lease during the 3rd quarter worth approximately $29,000. First Horizon Corp bought a new position in Air Lease in the third quarter valued at approximately $31,000. Los Angeles Capital Management LLC bought a new position in Air Lease in the fourth quarter valued at approximately $32,000. Finally, Parkside Financial Bank & Trust raised its position in Air Lease by 273.2% during the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 407 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Trading Up 0.0%

Shares of NYSE:AL opened at $64.71 on Wednesday. Air Lease has a 52-week low of $38.25 and a 52-week high of $64.96. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market capitalization of $7.25 billion, a P/E ratio of 6.95, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11. The company has a 50-day simple moving average of $64.49 and a 200 day simple moving average of $63.69.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.74. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The firm had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. During the same quarter in the prior year, the company earned $0.83 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Air Lease will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Monday, March 2nd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd. Air Lease’s dividend payout ratio is currently 9.45%.

Air Lease Company Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.