Air Lease Corporation (NYSE:AL) Stock Rating Lowered by BidaskClub
Air Lease Corporation (NYSE:AL) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
A number of other research firms have also recently weighed in on AL. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Royal Bank Of Canada restated a “buy” rating on shares of Air Lease Corporation in a research note on Monday, May 15th. Barclays PLC started coverage on shares of Air Lease Corporation in a research note on Monday, July 10th. They set an “overweight” rating and a $48.00 target price on the stock. FBR & Co reduced their price target on shares of Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, May 15th. Finally, Bank of America Corporation downgraded shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Wednesday. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.25.
Air Lease Corporation (AL) traded down 0.50% on Friday, hitting $39.91. 178,730 shares of the stock traded hands. Air Lease Corporation has a 52-week low of $27.05 and a 52-week high of $43.39. The company’s 50 day moving average price is $39.11 and its 200-day moving average price is $38.11. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 11.62 and a beta of 1.78.
Air Lease Corporation (NYSE:AL) last released its earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $380.59 million for the quarter, compared to analysts’ expectations of $375.14 million. During the same quarter in the previous year, the company earned $1.39 EPS. Air Lease Corporation’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts forecast that Air Lease Corporation will post $3.46 earnings per share for the current fiscal year.
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In other news, EVP Grant A. Levy sold 27,854 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total value of $1,062,908.64. Following the sale, the executive vice president now directly owns 210,824 shares in the company, valued at approximately $8,045,043.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jie Chen sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,854 shares of company stock worth $1,568,909. 9.76% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Air Lease Corporation by 14,924.1% in the first quarter. BlackRock Inc. now owns 3,851,727 shares of the transportation company’s stock worth $149,254,000 after buying an additional 3,826,090 shares during the period. Boston Partners increased its stake in Air Lease Corporation by 70.7% in the second quarter. Boston Partners now owns 8,494,727 shares of the transportation company’s stock worth $317,363,000 after buying an additional 3,519,693 shares during the period. Norges Bank acquired a new stake in Air Lease Corporation during the fourth quarter worth $14,466,000. Vanguard Group Inc. increased its stake in Air Lease Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 7,454,231 shares of the transportation company’s stock worth $288,852,000 after buying an additional 294,544 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Air Lease Corporation by 1,073.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 279,676 shares of the transportation company’s stock worth $10,837,000 after buying an additional 255,846 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.
About Air Lease Corporation
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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