Air Lease (NYSE:AL) PT Lowered to $56.00

Air Lease (NYSE:AL) had its price objective dropped by equities research analysts at TD Cowen from $59.00 to $56.00 in a research note issued on Tuesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target suggests a potential upside of 14.33% from the stock’s current price.

AL has been the topic of several other research reports. BMO Capital Markets lifted their price objective on shares of Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. StockNews.com cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Barclays lifted their price objective on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Air Lease currently has an average rating of “Moderate Buy” and an average target price of $53.80.

Air Lease Stock Up 2.5 %

Air Lease stock opened at $48.98 on Tuesday. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.64 and a beta of 1.63. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68. The company’s 50-day moving average price is $48.28 and its two-hundred day moving average price is $42.66. Air Lease has a 52 week low of $33.33 and a 52 week high of $52.31.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.54). The business had revenue of $663.31 million during the quarter, compared to analyst estimates of $677.26 million. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. On average, analysts expect that Air Lease will post 6.22 EPS for the current fiscal year.

Insider Transactions at Air Lease

In other news, EVP Alex A. Khatibi sold 11,199 shares of Air Lease stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $47.37, for a total value of $530,496.63. Following the transaction, the executive vice president now directly owns 76,300 shares of the company’s stock, valued at $3,614,331. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the sale, the executive vice president now directly owns 72,073 shares in the company, valued at $2,884,361.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alex A. Khatibi sold 11,199 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.37, for a total transaction of $530,496.63. Following the sale, the executive vice president now owns 76,300 shares of the company’s stock, valued at $3,614,331. The disclosure for this sale can be found here. Insiders have sold a total of 89,646 shares of company stock valued at $3,705,152 over the last ninety days. Corporate insiders own 6.64% of the company’s stock.

Institutional Trading of Air Lease

Institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in Air Lease in the first quarter valued at approximately $31,000. Neo Ivy Capital Management acquired a new stake in Air Lease in the third quarter valued at approximately $40,000. Quantbot Technologies LP acquired a new stake in shares of Air Lease in the third quarter worth $48,000. Hexagon Capital Partners LLC lifted its stake in shares of Air Lease by 1,341.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock worth $53,000 after buying an additional 1,167 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Air Lease in the fourth quarter worth $77,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Company Profile

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.