Air Lease Corporation (AL) Stock Rating Reaffirmed by Royal Bank Of Canada
Air Lease Corporation (NYSE:AL)‘s stock had its “buy” rating reiterated by investment analysts at Royal Bank Of Canada in a research note issued to investors on Thursday. They presently have a $80.00 target price on the transportation company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 81.82% from the stock’s previous close.
Several other research firms have also recently commented on AL. Bank of America Corporation set a $47.00 target price on shares of Air Lease Corporation and gave the stock a “hold” rating in a research report on Thursday, October 19th. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub cut shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Cowen and Company lifted their target price on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, Barclays PLC assumed coverage on shares of Air Lease Corporation in a research report on Monday, July 10th. They set an “overweight” rating and a $48.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $50.43.
Air Lease Corporation (AL) traded up $0.20 during trading on Thursday, hitting $44.00. 418,093 shares of the company’s stock traded hands, compared to its average volume of 554,984. Air Lease Corporation has a 1 year low of $30.22 and a 1 year high of $45.15. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $4,541.33, a PE ratio of 12.75, a P/E/G ratio of 1.32 and a beta of 1.83.
Air Lease Corporation (NYSE:AL) last posted its earnings results on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.08. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The firm had revenue of $380.59 million for the quarter, compared to analysts’ expectations of $375.14 million. During the same quarter last year, the firm earned $1.39 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. sell-side analysts expect that Air Lease Corporation will post 3.44 EPS for the current fiscal year.
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In related news, Director Jie Chen sold 2,000 shares of Air Lease Corporation stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.82, for a total value of $87,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc H. Baer sold 7,562 shares of Air Lease Corporation stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $39.72, for a total transaction of $300,362.64. Following the completion of the transaction, the executive vice president now owns 132,001 shares of the company’s stock, valued at $5,243,079.72. The disclosure for this sale can be found here. Insiders sold a total of 34,562 shares of company stock worth $1,430,003 in the last ninety days. 9.76% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in AL. Israel Discount Bank of New York grew its stake in Air Lease Corporation by 7.7% in 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 buying an additional 200 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Air Lease Corporation in the 2nd quarter valued at approximately $111,000. QS Investors LLC grew its stake in Air Lease Corporation by 0.6% in the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after buying an additional 21 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Air Lease Corporation by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after buying an additional 331 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Air Lease Corporation by 14.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock valued at $183,000 after buying an additional 621 shares in the last quarter. Institutional investors and hedge funds own 92.12% of the company’s stock.
Air Lease Corporation 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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