Air Lease (NYSE:AL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $55.00 price target on the transportation company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.57% from the stock’s previous close.

According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “

A number of other equities research analysts have also recently issued reports on AL. ValuEngine cut Air Lease from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Cowen boosted their price objective on Air Lease from $45.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Credit Suisse Group boosted their price objective on Air Lease from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. UBS Group boosted their price objective on Air Lease from $30.00 to $31.00 and gave the stock a “sell” rating in a report on Friday, November 10th. Finally, Citigroup began coverage on Air Lease in a report on Friday, December 8th. They set a “neutral” rating and a $46.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $49.40.

Shares of Air Lease (NYSE:AL) traded down $0.02 during trading hours on Tuesday, hitting $48.43. The stock had a trading volume of 477,000 shares, compared to its average volume of 760,843. Air Lease has a 12 month low of $34.42 and a 12 month high of $49.58. The company has a market capitalization of $5,000.00, a PE ratio of 13.92, a PEG ratio of 1.27 and a beta of 1.81. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. The company had revenue of $376.77 million during the quarter, compared to analysts’ expectations of $374.61 million. During the same quarter in the previous year, the company posted $1.43 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. analysts forecast that Air Lease will post 3.45 earnings per share for the current year.

In other news, EVP Marc H. Baer sold 5,000 shares of Air Lease stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $44.13, for a total value of $220,650.00. Following the completion of the sale, the executive vice president now directly owns 127,001 shares in the company, valued at $5,604,554.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John L. Plueger sold 300,000 shares of Air Lease stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $41.34, for a total transaction of $12,402,000.00. Following the completion of the sale, the chief executive officer now owns 1,057,310 shares of the company’s stock, valued at $43,709,195.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 379,000 shares of company stock valued at $15,939,110. 9.76% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AL. Schwab Charles Investment Management Inc. raised its position in Air Lease by 6.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 352,634 shares of the transportation company’s stock valued at $13,175,000 after purchasing an additional 20,653 shares in the last quarter. Bank of New York Mellon Corp raised its position in Air Lease by 14.5% during the second quarter. Bank of New York Mellon Corp now owns 563,634 shares of the transportation company’s stock valued at $21,056,000 after purchasing an additional 71,487 shares in the last quarter. Utah Retirement Systems raised its position in Air Lease by 1.1% during the second quarter. Utah Retirement Systems now owns 17,635 shares of the transportation company’s stock valued at $659,000 after purchasing an additional 200 shares in the last quarter. Neuberger Berman Group LLC raised its position in Air Lease by 158.0% during the second quarter. Neuberger Berman Group LLC now owns 51,593 shares of the transportation company’s stock valued at $1,928,000 after purchasing an additional 31,593 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Air Lease by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after purchasing an additional 331 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.

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About Air Lease

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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