Air Lease (NYSE:AL) Price Target Raised to $57.00

Air Lease (NYSE:AL) had its target price upped by JPMorgan Chase & Co. from $56.00 to $57.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Separately, The Goldman Sachs Group restated a “buy” rating and issued a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.50.

Air Lease Stock Performance

Shares of AL opened at $50.59 on Tuesday. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.59. The company’s fifty day moving average is $47.45 and its 200-day moving average is $46.35. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease has a 12 month low of $39.35 and a 12 month high of $52.31.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. Equities analysts expect that Air Lease will post 6.17 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s dividend payout ratio (DPR) is 26.43%.

Hedge Funds Weigh In On Air Lease

Institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Air Lease in the 3rd quarter valued at approximately $872,000. BCGM Wealth Management LLC bought a new stake in shares of Air Lease in the third quarter valued at approximately $1,899,000. Harbor Capital Advisors Inc. grew its stake in shares of Air Lease by 109.0% in the third quarter. Harbor Capital Advisors Inc. now owns 161,127 shares of the transportation company’s stock worth $7,297,000 after acquiring an additional 84,016 shares during the last quarter. Raymond James & Associates grew its stake in shares of Air Lease by 12.4% in the third quarter. Raymond James & Associates now owns 459,018 shares of the transportation company’s stock worth $20,789,000 after acquiring an additional 50,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Air Lease by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,115,221 shares of the transportation company’s stock worth $50,508,000 after acquiring an additional 36,596 shares during the period. 94.59% of the stock is currently owned by institutional investors.

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.