Brokerages Set Air Lease Corporation (NYSE:AL) PT at $59.17

Shares of Air Lease Corporation (NYSE:AL) have earned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $59.1667.

AL has been the topic of a number of research reports. Barclays reaffirmed an “equal weight” rating and set a $65.00 target price (down from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th. Zacks Research upgraded shares of Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th.

Insiders Place Their Bets

In other news, EVP Grant A. Levy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.30, for a total value of $64,300.00. Following the transaction, the executive vice president owned 137,206 shares in the company, valued at $8,822,345.80. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.10, for a total value of $1,324,434.20. Following the transaction, the executive vice president directly owned 50,091 shares in the company, valued at approximately $3,210,833.10. The trade was a 29.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 760,593 shares of company stock valued at $48,668,588. Corporate insiders own 6.64% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. True Wealth Design LLC grew its position in Air Lease by 2,980.0% in the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after purchasing an additional 447 shares in the last quarter. Mather Group LLC. bought a new position in shares of Air Lease in the third quarter valued at approximately $29,000. First Horizon Corp purchased a new stake in shares of Air Lease during the third quarter valued at approximately $31,000. Parkside Financial Bank & Trust lifted its holdings in Air Lease by 273.2% during the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after acquiring an additional 407 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Air Lease by 129.6% in the third quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after purchasing an additional 298 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Price Performance

Shares of NYSE AL opened at $64.36 on Tuesday. The firm has a market capitalization of $7.19 billion, a P/E ratio of 7.46, a P/E/G ratio of 0.56 and a beta of 1.15. The firm’s 50-day moving average price is $64.05 and its 200-day moving average price is $61.96. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. Air Lease has a 1-year low of $38.25 and a 1-year high of $64.40.

Air Lease (NYSE:AL) last issued its earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.16 by $0.13. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The company had revenue of $725.39 million during the quarter, compared to the consensus estimate of $744.59 million. During the same period last year, the business posted $0.82 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Air Lease will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease’s payout ratio is 10.20%.

Air Lease Company Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.