Air Lease (AL) Upgraded at Zacks Investment Research

Air Lease (NYSE:AL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $55.00 price target on the transportation company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.68% from the stock’s previous close.

According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada upped their target price on shares of Air Lease from $79.00 to $80.00 and gave the company a “top pick” rating in a research report on Friday, September 29th. ValuEngine cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. UBS Group upped their price objective on shares of Air Lease from $30.00 to $31.00 and gave the company a “sell” rating in a research report on Friday, November 10th. Cowen upped their price objective on shares of Air Lease from $45.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, Bank of America set a $47.00 price objective on shares of Air Lease and gave the company a “hold” rating in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $49.40.

Shares of Air Lease (NYSE:AL) traded up $0.80 during trading on Tuesday, hitting $49.25. 893,200 shares of the company’s stock traded hands, compared to its average volume of 825,300. The company has a market cap of $5,050.00, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.27 and a beta of 1.81. Air Lease has a 52 week low of $34.42 and a 52 week high of $49.52. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $376.77 million during the quarter, compared to analysts’ expectations of $374.61 million. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS. research analysts forecast that Air Lease will post 3.45 earnings per share for the current fiscal year.

In related news, CEO John L. Plueger sold 300,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $41.34, for a total value of $12,402,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,057,310 shares of the company’s stock, valued at approximately $43,709,195.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jie Chen sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $47.96, for a total transaction of $191,840.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 379,000 shares of company stock valued at $15,939,110. 9.76% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. QS Investors LLC boosted its stake in Air Lease by 0.6% in the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after purchasing an additional 21 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Air Lease by 0.9% during the 2nd quarter. Suntrust Banks Inc. now owns 12,844 shares of the transportation company’s stock worth $479,000 after buying an additional 119 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Air Lease by 0.8% during the 2nd quarter. Advisory Services Network LLC now owns 23,589 shares of the transportation company’s stock worth $881,000 after buying an additional 198 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of Air Lease by 1.1% during the 2nd quarter. Utah Retirement Systems now owns 17,635 shares of the transportation company’s stock worth $659,000 after buying an additional 200 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Air Lease by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after buying an additional 331 shares during the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.

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About Air Lease

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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