AerSale (NASDAQ:ASLE) Announces Earnings Results

AerSale (NASDAQ:ASLE) released its earnings results on Thursday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06), FiscalAI reports. AerSale had a return on equity of 2.09% and a net margin of 1.73%.The business had revenue of $71.19 million for the quarter, compared to the consensus estimate of $93.86 million.

AerSale Price Performance

ASLE traded down $0.85 during trading hours on Friday, hitting $6.14. The company’s stock had a trading volume of 1,543,319 shares, compared to its average volume of 298,159. The company has a current ratio of 3.87, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. AerSale has a 12 month low of $5.34 and a 12 month high of $9.12. The stock has a market cap of $289.69 million, a price-to-earnings ratio of 47.23 and a beta of 0.24. The business’s 50-day moving average price is $7.95 and its 200-day moving average price is $7.07.

Hedge Funds Weigh In On AerSale

Institutional investors have recently bought and sold shares of the business. Amundi acquired a new position in AerSale during the 1st quarter valued at approximately $161,000. Jane Street Group LLC lifted its position in AerSale by 1,250.8% during the first quarter. Jane Street Group LLC now owns 174,543 shares of the company’s stock worth $1,307,000 after buying an additional 161,622 shares in the last quarter. American Century Companies Inc. raised its position in AerSale by 165.1% in the second quarter. American Century Companies Inc. now owns 234,335 shares of the company’s stock valued at $1,408,000 after purchasing an additional 145,931 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of AerSale by 1.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 275,022 shares of the company’s stock valued at $1,653,000 after buying an additional 4,416 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of AerSale by 4.1% in the second quarter. Invesco Ltd. now owns 92,867 shares of the company’s stock valued at $558,000 after acquiring an additional 3,652 shares in the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ASLE. Truist Financial upped their price objective on shares of AerSale from $6.00 to $7.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Zacks Research downgraded shares of AerSale from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of AerSale in a report on Wednesday, October 8th. Royal Bank Of Canada increased their price target on shares of AerSale from $7.00 to $8.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of AerSale from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.50.

AerSale Company Profile

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).