Air Lease Corporation (NYSE:AL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “
A number of other equities analysts have also commented on the stock. Royal Bank Of Canada increased their price target on shares of Air Lease Corporation from $79.00 to $80.00 and gave the stock a “top pick” rating in a report on Friday, September 29th. Bank of America Corporation set a $47.00 price target on shares of Air Lease Corporation and gave the stock a “hold” rating in a report on Thursday, October 19th. Cowen and Company increased their price target on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Credit Suisse Group upped their price objective on shares of Air Lease Corporation from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, BidaskClub cut shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Air Lease Corporation currently has an average rating of “Buy” and an average target price of $48.78.
Air Lease Corporation (AL) traded up $0.51 during trading on Wednesday, reaching $41.63. 519,900 shares of the company were exchanged, compared to its average volume of 754,023. The company has a market cap of $4,280.00, a price-to-earnings ratio of 11.78, a PEG ratio of 1.23 and a beta of 1.83. Air Lease Corporation has a twelve month low of $34.21 and a twelve month high of $45.15. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53.
Air Lease Corporation (NYSE:AL) last issued its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.03. The firm had revenue of $376.77 million for the quarter, compared to analyst estimates of $374.61 million. Air Lease Corporation had a net margin of 25.67% and a return on equity of 10.87%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 EPS. research analysts anticipate that Air Lease Corporation will post 3.46 earnings per share for the current year.
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In related news, EVP Marc H. Baer sold 7,562 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $39.72, for a total value of $300,362.64. Following the completion of the transaction, the executive vice president now directly owns 132,001 shares in the company, valued at approximately $5,243,079.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kishore Korde sold 2,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $40.80, for a total transaction of $81,600.00. Following the completion of the transaction, the executive vice president now owns 84,410 shares of the company’s stock, valued at $3,443,928. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,562 shares of company stock valued at $13,483,603. Corporate insiders own 9.76% of the company’s stock.
Several institutional investors have recently modified their holdings of AL. Israel Discount Bank of New York increased its stake in Air Lease Corporation by 7.7% during the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock valued at $104,000 after purchasing an additional 200 shares in the last quarter. Fiduciary Trust Co. bought a new stake in Air Lease Corporation during the 2nd quarter valued at about $111,000. Zions Bancorporation bought a new stake in Air Lease Corporation during the 3rd quarter valued at about $114,000. QS Investors LLC increased its stake in Air Lease Corporation by 0.6% during the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 21 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Air Lease Corporation by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after purchasing an additional 331 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.
About Air Lease Corporation
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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