Air Lease (NYSE:AL) Sets New 52-Week High – What’s Next?

Shares of Air Lease Corporation (NYSE:AL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $64.40 and last traded at $64.3650, with a volume of 198269 shares. The stock had previously closed at $64.33.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays reiterated an “equal weight” rating and set a $65.00 price objective (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.17.

Air Lease Trading Up 0.1%

The company has a fifty day moving average of $64.08 and a 200-day moving average of $62.11. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 0.56 and a beta of 1.15.

Air Lease (NYSE:AL) last issued its earnings results on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The business had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. During the same period in the prior year, the business earned $0.82 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.88 annualized dividend and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is 10.20%.

Insider Buying and Selling

In other news, EVP Grant A. Levy sold 1,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $64.30, for a total transaction of $64,300.00. Following the sale, the executive vice president owned 137,206 shares of the company’s stock, valued at approximately $8,822,345.80. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kishore Korde sold 20,662 shares of Air Lease stock in a transaction on Monday, December 15th. The shares were sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the transaction, the executive vice president owned 50,091 shares of the company’s stock, valued at approximately $3,210,833.10. This trade represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 760,593 shares of company stock valued at $48,668,588. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AL. True Wealth Design LLC increased its stake in Air Lease by 2,980.0% in the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 447 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Air Lease during the third quarter worth about $29,000. First Horizon Corp acquired a new position in Air Lease in the 3rd quarter valued at $31,000. Parkside Financial Bank & Trust increased its stake in Air Lease by 273.2% in the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 407 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Air Lease by 129.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after acquiring an additional 298 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.