Seaport Global Securities began coverage on shares of Air Lease (NYSE:AL) in a research note released on Wednesday morning, The Fly reports. The firm issued a buy rating on the transportation company’s stock.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Air Lease from a hold rating to a sell rating in a research note on Monday, August 6th. Bank of America restated a buy rating and set a $57.00 price objective on shares of Air Lease in a research report on Thursday, August 16th. ValuEngine lowered Air Lease from a hold rating to a sell rating in a research report on Friday, September 7th. Compass Point restated a buy rating and set a $58.00 price objective on shares of Air Lease in a research report on Sunday, August 12th. Finally, Royal Bank of Canada boosted their price objective on Air Lease from $91.00 to $93.00 and gave the stock a top pick rating in a research report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven 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 a consensus price target of $55.85.
Shares of AL opened at $41.73 on Wednesday. Air Lease has a 52-week low of $40.26 and a 52-week high of $50.70. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $4.77 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.21 and a beta of 1.78.
Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, August 9th. The transportation company reported $1.04 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.04. Air Lease had a return on equity of 10.85% and a net margin of 51.22%. The company had revenue of $397.80 million for the quarter, compared to analyst estimates of $400.11 million. During the same quarter last year, the company posted $1.51 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts expect that Air Lease will post 4.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 14th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.96%. Air Lease’s dividend payout ratio is currently 10.96%.
In other Air Lease news, EVP Grant A. Levy sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $45.13, for a total value of $676,950.00. Following the sale, the executive vice president now owns 153,399 shares in the company, valued at approximately $6,922,896.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John D. Poerschke sold 6,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $46.90, for a total value of $281,400.00. Following the completion of the sale, the executive vice president now owns 51,500 shares in the company, valued at approximately $2,415,350. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $1,420,550 in the last 90 days. 9.32% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AL. Advisors Asset Management Inc. grew its position in shares of Air Lease by 1,105.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 37,552 shares of the transportation company’s stock valued at $100,000 after buying an additional 34,436 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Air Lease by 224.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,618 shares of the transportation company’s stock valued at $153,000 after buying an additional 2,502 shares during the last quarter. Meadow Creek Investment Management LLC bought a new stake in shares of Air Lease in the 2nd quarter valued at about $173,000. Glen Harbor Capital Management LLC bought a new stake in shares of Air Lease in the 2nd quarter valued at about $210,000. Finally, Paloma Partners Management Co bought a new stake in shares of Air Lease in the 2nd quarter valued at about $222,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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