AerSale Corporation (NASDAQ:ASLE) Given Average Rating of “Reduce” by Analysts

AerSale Corporation (NASDAQ:ASLE) has been assigned an average rating of “Reduce” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.8333.

A number of brokerages recently commented on ASLE. Wall Street Zen cut shares of AerSale from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of AerSale in a research note on Wednesday, August 12th. B. Riley Financial initiated coverage on shares of AerSale in a report on Monday, June 29th. They set a “neutral” rating and a $7.50 target price on the stock. Zacks Research downgraded AerSale from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 27th. Finally, Royal Bank Of Canada cut their price target on AerSale from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Monday, August 10th.

AerSale Stock Up 0.1%

ASLE stock opened at $5.47 on Friday. The stock has a market cap of $261.32 million, a P/E ratio of -68.44 and a beta of 0.23. The company has a current ratio of 3.27, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $5.84 and its two-hundred day simple moving average is $6.27. AerSale has a 1-year low of $5.27 and a 1-year high of $8.70.

AerSale (NASDAQ:ASLE) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%.The company had revenue of $70.93 million during the quarter, compared to the consensus estimate of $81.24 million. Analysts expect that AerSale will post 0.03 EPS for the current year.

Institutional Trading of AerSale

A number of institutional investors have recently added to or reduced their stakes in the stock. M3F Inc. lifted its holdings in shares of AerSale by 20.0% in the first quarter. M3F Inc. now owns 3,983,632 shares of the company’s stock worth $24,778,000 after buying an additional 664,487 shares in the last quarter. BlackRock Inc. bought a new position in AerSale in the 2nd quarter valued at $17,358,000. Dimensional Fund Advisors LP grew its position in shares of AerSale by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company’s stock valued at $8,691,000 after purchasing an additional 110,360 shares in the last quarter. Raffles Associates LP purchased a new position in shares of AerSale during the 2nd quarter valued at $2,907,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of AerSale by 22.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 203,926 shares of the company’s stock worth $1,519,000 after purchasing an additional 37,299 shares during the period. Hedge funds and other institutional investors own 69.48% of the company’s stock.

About AerSale

AerSale Corporation (NASDAQ: ASLE) is an aviation aftermarket company that provides products and services to commercial airlines, cargo operators, leasing companies, government agencies and other aviation customers. The company supports aircraft throughout their operating life through maintenance, repair and overhaul services, engineering and modification work, and the sale of aircraft and aircraft components.

AerSale’s activities include the acquisition and disassembly of aircraft, engine and component asset management, parts distribution, and maintenance services.