Air Lease Corporation (NYSE:AL) has received an average rating of “Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $49.75.
Several equities research analysts have commented on AL shares. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Barclays PLC started coverage on shares of Air Lease Corporation in a report on Monday, July 10th. They issued an “overweight” rating and a $48.00 price target on the stock. Bank of America Corporation lowered shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Wednesday, August 9th. Morgan Stanley upped their price objective on shares of Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th. Finally, BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th.
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In related news, EVP Marc H. Baer sold 7,562 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $39.72, for a total transaction of $300,362.64. Following the completion of the transaction, the executive vice president now owns 132,001 shares in the company, valued at approximately $5,243,079.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jie Chen sold 4,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.00, for a total transaction of $172,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,562 shares of company stock valued at $1,342,363. Insiders own 9.76% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Leith Wheeler Investment Counsel Ltd. raised its holdings in Air Lease Corporation by 52.3% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 45,216 shares of the transportation company’s stock valued at $1,668,000 after acquiring an additional 15,530 shares during the last quarter. Advisory Services Network LLC raised its holdings in Air Lease Corporation by 0.8% in the 2nd quarter. Advisory Services Network LLC now owns 23,589 shares of the transportation company’s stock valued at $881,000 after acquiring an additional 198 shares during the last quarter. Sterling Capital Management LLC raised its holdings in Air Lease Corporation by 4.7% in the 2nd quarter. Sterling Capital Management LLC now owns 98,349 shares of the transportation company’s stock valued at $3,674,000 after acquiring an additional 4,418 shares during the last quarter. NFC Investments LLC raised its holdings in Air Lease Corporation by 2.8% in the 2nd quarter. NFC Investments LLC now owns 393,710 shares of the transportation company’s stock valued at $14,709,000 after acquiring an additional 10,585 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Air Lease Corporation in the 2nd quarter valued at about $362,000. Institutional investors own 92.11% of the company’s stock.
Air Lease Corporation (AL) opened at 43.21 on Wednesday. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 12.58 and a beta of 1.79. Air Lease Corporation has a 12 month low of $27.97 and a 12 month high of $44.56. The company has a 50 day moving average price of $40.85 and a 200 day moving average price of $38.85.
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, beating the consensus estimate of $0.84 by $0.08. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The company had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. During the same period in the prior year, the company earned $1.39 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Air Lease Corporation will post $3.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Wednesday, September 13th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.30 annualized dividend and a dividend yield of 0.69%. Air Lease Corporation’s dividend payout ratio (DPR) is presently 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.
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