Air Lease Corp (NYSE:AL) Chairman Steven F. Udvar-Hazy sold 9,150 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $43.25, for a total value of $395,737.50. Following the sale, the chairman now owns 926,962 shares of the company’s stock, valued at approximately $40,091,106.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Air Lease Corp (AL) traded up $0.28 during midday trading on Wednesday, hitting $44.20. The stock had a trading volume of 1,268,429 shares, compared to its average volume of 833,154. Air Lease Corp has a 1 year low of $34.42 and a 1 year high of $50.70. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $4,580.00, a PE ratio of 12.11, a PEG ratio of 0.67 and a beta of 1.73.
Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, February 22nd. The transportation company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.19. Air Lease had a return on equity of 10.91% and a net margin of 49.87%. The firm had revenue of $398.47 million for the quarter, compared to analysts’ expectations of $380.93 million. During the same quarter in the prior year, the firm earned $1.48 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. research analysts forecast that Air Lease Corp will post 4.63 earnings per share for the current fiscal year.
AL has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Air Lease from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, January 9th. ValuEngine downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Credit Suisse Group restated an “outperform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Air Lease in a research note on Friday, February 23rd. UBS Group restated a “sell” rating and issued a $32.00 price objective (up previously from $31.00) on shares of Air Lease in a research note on Wednesday, February 21st. Finally, Citigroup upped their price objective on Air Lease from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Air Lease currently has a consensus rating of “Buy” and an average price target of $52.05.
Several hedge funds and other institutional investors have recently modified their holdings of AL. Calton & Associates Inc. purchased a new stake in Air Lease during the 4th quarter worth about $102,000. Zions Bancorporation purchased a new stake in Air Lease during the 3rd quarter worth about $114,000. Whittier Trust Co. purchased a new stake in Air Lease during the 4th quarter worth about $141,000. Comerica Bank purchased a new stake in Air Lease during the 4th quarter worth about $213,000. Finally, Parametrica Management Ltd purchased a new stake in Air Lease during the 4th quarter worth about $225,000. 90.32% of the stock is currently owned by hedge funds and other institutional investors.
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Air Lease 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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