Air Lease Corporation (NYSE:AL) Receives $59.17 Average PT from Analysts

Air Lease Corporation (NYSE:AL) has been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $59.1667.

AL has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Barclays reissued an “equal weight” rating and set a $65.00 price target (down previously from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Finally, Zacks Research raised Air Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th.

Air Lease Trading Up 0.1%

Air Lease stock opened at $64.59 on Friday. The stock has a 50-day moving average price of $64.27 and a 200 day moving average price of $62.73. Air Lease has a 52 week low of $38.25 and a 52 week high of $64.71. The stock has a market cap of $7.22 billion, a PE ratio of 7.48, a P/E/G ratio of 0.56 and a beta of 1.13. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42.

Insider Buying and Selling at Air Lease

In related news, EVP Kishore Korde sold 20,662 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the sale, the executive vice president directly owned 50,091 shares in the company, valued at approximately $3,210,833.10. The trade was a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Grant A. Levy sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.30, for a total transaction of $64,300.00. Following the transaction, the executive vice president directly owned 137,206 shares of the company’s stock, valued at $8,822,345.80. This trade represents a 0.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 702,375 shares of company stock worth $44,952,408 in the last 90 days. 6.80% of the stock is owned by company insiders.

Institutional Trading of Air Lease

Several institutional investors have recently made changes to their positions in AL. Dimensional Fund Advisors LP raised its position in shares of Air Lease by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,591,387 shares of the transportation company’s stock worth $419,540,000 after buying an additional 41,975 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Air Lease by 7.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock worth $211,797,000 after acquiring an additional 265,423 shares during the last quarter. State Street Corp raised its holdings in shares of Air Lease by 0.8% in the 2nd quarter. State Street Corp now owns 3,459,048 shares of the transportation company’s stock worth $203,084,000 after purchasing an additional 28,227 shares during the period. UBS Group AG lifted its stake in shares of Air Lease by 269.9% in the 4th quarter. UBS Group AG now owns 2,818,667 shares of the transportation company’s stock valued at $181,043,000 after purchasing an additional 2,056,637 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Air Lease by 930.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,283,492 shares of the transportation company’s stock worth $145,321,000 after purchasing an additional 2,061,817 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.