Brokerages Set Air Lease Corporation (NYSE:AL) Target Price at $60.29

Shares of Air Lease Corporation (NYSE:AL) have earned a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $60.2857.

A number of brokerages have issued reports on AL. Deutsche Bank Aktiengesellschaft lowered Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Wednesday, September 3rd. TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Barclays reiterated an “overweight” rating and issued a $67.00 price target (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday.

Air Lease Price Performance

AL stock opened at $63.52 on Friday. Air Lease has a 52-week low of $38.25 and a 52-week high of $64.30. The stock’s fifty day simple moving average is $61.23 and its 200-day simple moving average is $56.00. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.65 and a beta of 1.37.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The business had revenue of $731.70 million for the quarter, compared to analysts’ expectations of $723.35 million. During the same quarter last year, the firm earned $1.23 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Equities research analysts expect that Air Lease will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd were issued a $0.22 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is presently 10.68%.

Insiders Place Their Bets

In other news, EVP Grant A. Levy sold 5,000 shares of Air Lease stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $63.57, for a total value of $317,850.00. Following the transaction, the executive vice president directly owned 141,316 shares of the company’s stock, valued at $8,983,458.12. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David Beker sold 5,000 shares of Air Lease stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $63.53, for a total value of $317,650.00. Following the completion of the transaction, the executive vice president directly owned 13,970 shares in the company, valued at $887,514.10. This represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $746,380 in the last quarter. 6.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Archer Investment Corp lifted its holdings in shares of Air Lease by 6.6% during the 2nd quarter. Archer Investment Corp now owns 3,250 shares of the transportation company’s stock valued at $190,000 after acquiring an additional 200 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Air Lease by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 34,793 shares of the transportation company’s stock worth $2,035,000 after purchasing an additional 234 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Air Lease by 0.5% during the first quarter. Illinois Municipal Retirement Fund now owns 56,306 shares of the transportation company’s stock worth $2,720,000 after purchasing an additional 272 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of Air Lease by 0.7% during the second quarter. Yousif Capital Management LLC now owns 41,004 shares of the transportation company’s stock worth $2,398,000 after purchasing an additional 273 shares in the last quarter. Finally, MBM Wealth Consultants LLC lifted its stake in shares of Air Lease by 2.1% during the first quarter. MBM Wealth Consultants LLC now owns 14,131 shares of the transportation company’s stock worth $686,000 after purchasing an additional 284 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

About Air Lease

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.