Air Lease Corporation (NYSE:AL) Receives $60.29 Consensus PT from Brokerages

Air Lease Corporation (NYSE:AL) has been given a consensus rating of “Hold” by the nine research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $60.2857.

AL has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Barclays reaffirmed an “overweight” rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Wednesday, September 3rd. Cowen downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd.

Insider Transactions at Air Lease

In related news, EVP David Beker sold 5,000 shares of Air Lease stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total value of $317,650.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Grant A. Levy sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the sale, the executive vice president owned 141,316 shares in the company, valued at approximately $8,983,458.12. This trade represents a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 12,000 shares of company stock valued at $746,380. 6.64% of the stock is owned by insiders.

Institutional Trading of Air Lease

A number of institutional investors have recently bought and sold shares of the stock. M&T Bank Corp grew its holdings in Air Lease by 3.6% during the 1st quarter. M&T Bank Corp now owns 14,793 shares of the transportation company’s stock valued at $714,000 after purchasing an additional 508 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Air Lease by 18.7% during the first quarter. Bessemer Group Inc. now owns 10,410 shares of the transportation company’s stock valued at $503,000 after buying an additional 1,640 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Air Lease during the first quarter valued at approximately $1,347,000. LPL Financial LLC grew its stake in shares of Air Lease by 11.3% during the first quarter. LPL Financial LLC now owns 45,244 shares of the transportation company’s stock valued at $2,186,000 after buying an additional 4,601 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Air Lease in the first quarter worth approximately $987,000. 94.59% of the stock is currently owned by institutional investors.

Air Lease Stock Performance

AL opened at $63.88 on Thursday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.66 and a beta of 1.37. The company has a fifty day moving average of $63.22 and a 200 day moving average of $58.11. Air Lease has a fifty-two week low of $38.25 and a fifty-two week high of $64.30.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that Air Lease will post 5.16 earnings per share for the current fiscal year.

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.