Air Lease (NYSE:AL) Sees Large Volume Increase – What’s Next?

Shares of Air Lease Corporation (NYSE:AL) saw unusually-strong trading volume on Thursday . Approximately 6,242,664 shares changed hands during trading, an increase of 376% from the previous session’s volume of 1,310,771 shares.The stock last traded at $63.7350 and had previously closed at $63.80.

Analysts Set New Price Targets

AL has been the subject of several recent research reports. Cowen lowered shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Wednesday, September 3rd. Finally, Zacks Research lowered Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.29.

Air Lease Stock Down 0.1%

The stock has a market cap of $7.12 billion, a PE ratio of 7.73, a PEG ratio of 0.66 and a beta of 1.36. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The company has a 50 day moving average price of $63.65 and a two-hundred day moving average price of $59.84.

Air Lease (NYSE:AL) last released its quarterly earnings data 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 7.99% and a net margin of 34.04%.The company had revenue of $725.39 million for the quarter, compared to analysts’ expectations of $744.59 million. During the same period last year, the firm posted $0.82 earnings per share. Air Lease’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

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

Insider Activity at Air Lease

In related news, EVP David Beker sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $63.53, for a total value of $317,650.00. Following the sale, the executive vice president owned 13,970 shares in the company, valued at approximately $887,514.10. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction of $317,850.00. Following the sale, the executive vice president owned 141,316 shares of the company’s stock, valued at approximately $8,983,458.12. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,408 shares of company stock valued at $5,002,933 over the last quarter. 6.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Archer Investment Corp increased its position in shares of Air Lease by 5.1% during the 3rd quarter. Archer Investment Corp now owns 3,415 shares of the transportation company’s stock valued at $217,000 after purchasing an additional 165 shares during the last quarter. Sage Rhino Capital LLC increased its holdings in Air Lease by 4.8% during the third quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company’s stock valued at $253,000 after buying an additional 181 shares during the last quarter. Eastern Bank raised its position in Air Lease by 33.2% in the third quarter. Eastern Bank now owns 799 shares of the transportation company’s stock worth $51,000 after acquiring an additional 199 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Air Lease by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,994 shares of the transportation company’s stock worth $2,227,000 after acquiring an additional 201 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Air Lease by 1.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,153 shares of the transportation company’s stock valued at $710,000 after acquiring an additional 205 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.