Royal Bank Of Canada reiterated their buy rating on shares of Air Lease Corporation (NYSE:AL) in a research report sent to investors on Thursday. The firm currently has a $80.00 price target on the transportation company’s stock.
Other research analysts also recently issued research reports about the stock. Bank of America Corporation downgraded shares of Air Lease Corporation from a buy rating to a neutral rating and set a $44.00 price objective for the company. in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Air Lease Corporation from a buy rating to a hold rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Air Lease Corporation from a sell rating to a hold rating in a research note on Wednesday, August 9th. Cowen and Company upped their price objective on shares of Air Lease Corporation from $41.00 to $45.00 and gave the company an outperform rating in a research note on Friday, August 4th. Finally, Barclays PLC assumed coverage on shares of Air Lease Corporation in a research note on Monday, July 10th. They set an overweight rating and a $48.00 price objective for the company. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $50.43.
Air Lease Corporation (AL) opened at $44.00 on Thursday. The stock has a market cap of $4,541.33, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.32 and a beta of 1.83. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.61. Air Lease Corporation has a 1-year low of $30.22 and a 1-year high of $45.15.
Air Lease Corporation (NYSE:AL) last released its earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.08. The company had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. equities research analysts predict that Air Lease Corporation will post 3.44 earnings per share for the current year.
In related news, Director Jie Chen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.82, for a total transaction of $87,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex A. Khatibi sold 11,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $40.00, for a total transaction of $440,000.00. Following the sale, the executive vice president now directly owns 142,786 shares of the company’s stock, valued at approximately $5,711,440. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,562 shares of company stock valued at $1,430,003. Corporate insiders own 9.76% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. acquired a new stake in Air Lease Corporation in the third quarter valued at approximately $417,000. Boston Partners grew its position in Air Lease Corporation by 2.0% in the third quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock valued at $369,267,000 after acquiring an additional 169,454 shares in the last quarter. Prudential Financial Inc. grew its position in Air Lease Corporation by 18.9% in the third quarter. Prudential Financial Inc. now owns 255,979 shares of the transportation company’s stock valued at $10,910,000 after acquiring an additional 40,769 shares in the last quarter. Stevens Capital Management LP acquired a new stake in Air Lease Corporation in the third quarter valued at approximately $3,462,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Air Lease Corporation in the third quarter valued at approximately $2,131,000. 92.20% of the stock is owned by institutional investors.
About Air Lease Corporation
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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