Air Lease (NYSE:AL) PT Raised to $51.00

Air Lease (NYSE:AL) had its price objective lifted by Cowen from $50.00 to $51.00 in a report released on Tuesday morning, Briefing.com Automated Import reports. They currently have an outperform rating on the transportation company’s stock.

Separately, ValuEngine downgraded Air Lease from a sell rating to a strong sell rating in a research report on Saturday, January 4th.

Shares of NYSE AL opened at $43.50 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.52. The stock has a 50 day simple moving average of $46.13 and a 200-day simple moving average of $44.05. The company has a market cap of $5.13 billion, a PE ratio of 8.90, a P/E/G ratio of 0.81 and a beta of 1.91. Air Lease has a 12-month low of $31.98 and a 12-month high of $49.96.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Friday, February 14th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The business had revenue of $549.00 million during the quarter, compared to the consensus estimate of $537.84 million. Air Lease had a return on equity of 11.05% and a net margin of 29.11%. The business’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 earnings per share. Sell-side analysts forecast that Air Lease will post 6.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Friday, March 20th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.60 annualized dividend and a yield of 1.38%. Air Lease’s payout ratio is 11.79%.

In related news, EVP Marc H. Baer sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $46.77, for a total transaction of $327,390.00. Following the sale, the executive vice president now owns 123,008 shares of the company’s stock, valued at $5,753,084.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alex A. Khatibi sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $46.01, for a total value of $460,100.00. Following the sale, the executive vice president now directly owns 134,622 shares in the company, valued at approximately $6,193,958.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,000 shares of company stock worth $1,251,990. 8.76% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. AE Wealth Management LLC raised its holdings in Air Lease by 5.5% during the fourth quarter. AE Wealth Management LLC now owns 5,240 shares of the transportation company’s stock worth $249,000 after purchasing an additional 275 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Air Lease by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 27,757 shares of the transportation company’s stock valued at $1,319,000 after buying an additional 290 shares in the last quarter. Seelaus Asset Management LLC increased its holdings in shares of Air Lease by 2.7% in the fourth quarter. Seelaus Asset Management LLC now owns 11,252 shares of the transportation company’s stock valued at $535,000 after buying an additional 300 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Air Lease by 1.5% in the fourth quarter. Utah Retirement Systems now owns 20,095 shares of the transportation company’s stock valued at $955,000 after buying an additional 300 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Air Lease by 6.0% in the third quarter. Comerica Bank now owns 5,794 shares of the transportation company’s stock valued at $256,000 after buying an additional 329 shares in the last quarter. 90.37% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Balance Sheet

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