ValuEngine upgraded shares of Air Lease (NYSE:AL) from a buy rating to a strong-buy rating in a research report released on Monday, April 2nd.
Other analysts also recently issued research reports about the stock. UBS restated a sell rating and set a $32.00 price objective (up previously from $31.00) on shares of Air Lease in a report on Wednesday, February 21st. Macquarie started coverage on shares of Air Lease in a report on Tuesday, March 13th. They set an outperform rating for the company. Zacks Investment Research upgraded shares of Air Lease from a hold rating to a buy rating and set a $55.00 target price for the company in a research note on Tuesday, January 9th. Citigroup reiterated a hold rating and issued a $49.00 target price on shares of Air Lease in a research note on Wednesday, February 28th. Finally, Bank of America upgraded shares of Air Lease from a neutral rating to a buy rating and set a $56.00 target price for the company in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Air Lease currently has an average rating of Buy and a consensus target price of $52.59.
Shares of AL stock traded down $0.02 on Monday, hitting $42.56. The stock had a trading volume of 314,268 shares, compared to its average volume of 704,441. The company has a market cap of $4,384.23, a P/E ratio of 11.66, a P/E/G ratio of 1.83 and a beta of 1.70. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.00 and a quick ratio of 1.00. Air Lease has a 12-month low of $34.42 and a 12-month high of $50.70.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Tuesday, March 20th were given a $0.10 dividend. The ex-dividend date was Monday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.94%. Air Lease’s dividend payout ratio (DPR) is currently 10.96%.
In other Air Lease news, insider Steven F. Udvar-Hazy sold 24,564 shares of Air Lease stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $44.25, for a total transaction of $1,086,957.00. Following the completion of the sale, the insider now directly owns 952,376 shares in the company, valued at $42,142,638. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven F. Udvar-Hazy sold 30,363 shares of Air Lease stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $44.25, for a total transaction of $1,343,562.75. Following the sale, the insider now owns 959,175 shares of the company’s stock, valued at $42,443,493.75. The disclosure for this sale can be found here. Insiders sold 85,077 shares of company stock valued at $3,781,447 over the last 90 days. 9.32% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB bought a new stake in shares of Air Lease in the 4th quarter worth approximately $455,000. Jane Street Group LLC lifted its holdings in shares of Air Lease by 77.2% in the 4th quarter. Jane Street Group LLC now owns 57,829 shares of the transportation company’s stock worth $2,781,000 after acquiring an additional 25,203 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Air Lease in the 4th quarter worth approximately $280,000. Two Sigma Investments LP lifted its holdings in shares of Air Lease by 196.4% in the 4th quarter. Two Sigma Investments LP now owns 278,917 shares of the transportation company’s stock worth $13,413,000 after acquiring an additional 184,821 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Air Lease by 5.5% in the 4th quarter. Two Sigma Advisers LP now owns 58,111 shares of the transportation company’s stock worth $2,795,000 after acquiring an additional 3,055 shares during the last quarter. Hedge funds and other institutional investors own 90.45% of the company’s stock.
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About Air Lease
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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