Royal Bank Of Canada Cuts AerSale (NASDAQ:ASLE) Price Target to $7.00

AerSale (NASDAQ:ASLE) had its target price decreased by Royal Bank Of Canada from $8.00 to $7.00 in a research note issued to investors on Monday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Other equities analysts have also issued research reports about the company. Zacks Research upgraded AerSale to a “hold” rating in a research note on Wednesday, July 1st. B. Riley Financial assumed coverage on AerSale in a research report on Monday, June 29th. They set a “neutral” rating and a $7.50 price objective for the company. Finally, Weiss Ratings lowered AerSale from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, May 15th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, AerSale has a consensus rating of “Reduce” and a consensus price target of $6.83.

AerSale Stock Performance

Shares of AerSale stock opened at $5.63 on Monday. The company has a 50 day moving average of $6.25 and a 200-day moving average of $6.61. AerSale has a 1-year low of $5.56 and a 1-year high of $9.12. The company has a current ratio of 3.74, a quick ratio of 0.89 and a debt-to-equity ratio of 0.01. The company has a market cap of $268.72 million, a PE ratio of -70.38 and a beta of 0.28.

AerSale (NASDAQ:ASLE) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). AerSale had a negative net margin of 1.23% and a negative return on equity of 0.27%. The firm had revenue of $70.93 million during the quarter, compared to the consensus estimate of $81.24 million. As a group, equities research analysts forecast that AerSale will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at AerSale

In other news, insider Martin Garmendia sold 6,094 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $38,635.96. Following the completion of the transaction, the insider directly owned 183,377 shares in the company, valued at approximately $1,162,610.18. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Frederick Craig Wright sold 4,182 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $26,513.88. Following the completion of the transaction, the insider owned 213,531 shares of the company’s stock, valued at $1,353,786.54. The trade was a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 21,316 shares of company stock worth $135,160 over the last quarter. Corporate insiders own 20.10% of the company’s stock.

Institutional Trading of AerSale

A number of hedge funds have recently made changes to their positions in the company. CWM LLC increased its stake in shares of AerSale by 100.7% in the fourth quarter. CWM LLC now owns 6,393 shares of the company’s stock valued at $45,000 after buying an additional 3,208 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of AerSale in the fourth quarter valued at about $56,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of AerSale by 39.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock valued at $55,000 after buying an additional 2,477 shares during the period. BNP Paribas Financial Markets raised its position in shares of AerSale by 45.6% during the third quarter. BNP Paribas Financial Markets now owns 9,813 shares of the company’s stock worth $80,000 after acquiring an additional 3,071 shares during the last quarter. Finally, KLCM Advisors Inc. bought a new position in shares of AerSale during the fourth quarter worth about $71,000. 69.48% of the stock is owned by institutional investors and hedge funds.

AerSale Company Profile

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.