Air Lease Corporation (NYSE:AL) Receives Average Rating of “Buy” from Brokerages

Shares of Air Lease Corporation (NYSE:AL) have received a consensus recommendation of “Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $45.43.

A number of equities analysts recently commented on AL shares. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating on shares of Air Lease Corporation in a report on Monday, May 15th. Barclays PLC started coverage on Air Lease Corporation in a report on Monday, July 10th. They set an “overweight” rating and a $48.00 price target for the company. FBR & Co reduced their price target on Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, May 15th. Finally, Bank of America Corporation cut Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Wednesday.

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In other Air Lease Corporation news, EVP Grant A. Levy sold 27,854 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total transaction of $1,062,908.64. Following the completion of the transaction, the executive vice president now directly owns 210,824 shares in the company, valued at $8,045,043.84. 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 the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $38.00, for a total transaction of $76,000.00. Following the transaction, the executive vice president now owns 86,410 shares of the company’s stock, valued at $3,283,580. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,854 shares of company stock valued at $1,568,909. 9.76% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AL. Cobalt Capital Management Inc. increased its position in shares of Air Lease Corporation by 29.3% in the second quarter. Cobalt Capital Management Inc. now owns 771,629 shares of the transportation company’s stock valued at $28,828,000 after buying an additional 175,000 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Air Lease Corporation during the second quarter valued at approximately $650,000. Parametric Portfolio Associates LLC increased its position in shares of Air Lease Corporation by 6.9% in the second quarter. Parametric Portfolio Associates LLC now owns 132,475 shares of the transportation company’s stock valued at $4,949,000 after buying an additional 8,597 shares in the last quarter. Sapience Investments LLC increased its position in shares of Air Lease Corporation by 42.5% in the second quarter. Sapience Investments LLC now owns 241,145 shares of the transportation company’s stock valued at $9,009,000 after buying an additional 71,870 shares during the period. Finally, Cedar Hill Associates LLC bought a new position in shares of Air Lease Corporation during the second quarter valued at about $7,768,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Air Lease Corporation (AL) traded down 0.25% on Friday, reaching $40.01. The company’s stock had a trading volume of 652,386 shares. Air Lease Corporation has a 52-week low of $27.05 and a 52-week high of $43.39. The firm has a 50-day moving average price of $39.21 and a 200 day moving average price of $38.14. The firm has a market capitalization of $4.13 billion, a P/E ratio of 11.65 and a beta of 1.78.

Air Lease Corporation (NYSE:AL) last posted its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The business had revenue of $380.59 million during the quarter, compared to analysts’ expectations of $375.14 million. During the same quarter last year, the company posted $1.39 earnings per share. Air Lease Corporation’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts anticipate that Air Lease Corporation will post $3.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th will be given a $0.075 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.75%. Air Lease Corporation’s payout ratio is 8.70%.

Air Lease Corporation Company Profile

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.