Air Lease Corporation (NYSE:AL) Given Consensus Recommendation of “Hold” by Brokerages

Air Lease Corporation (NYSE:AL) has received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $60.2857.

A number of research firms have commented on AL. TD Cowen cut shares of Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Cowen cut shares of Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Barclays restated an “overweight” rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a report on Wednesday, September 3rd.

Air Lease Price Performance

Shares of NYSE AL opened at $63.76 on Thursday. Air Lease has a twelve month low of $38.25 and a twelve month high of $64.30. The firm has a fifty day simple moving average of $63.43 and a 200 day simple moving average of $58.56. The company has a market capitalization of $7.13 billion, a PE ratio of 7.74, a P/E/G ratio of 0.66 and a beta of 1.36. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47.

Air Lease (NYSE:AL) last announced its earnings results on Monday, November 3rd. The transportation company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.05. The business had revenue of $725.39 million during the quarter, compared to the consensus estimate of $744.59 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. Air Lease’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. On average, sell-side analysts forecast that Air Lease will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 4th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, December 4th. Air Lease’s dividend payout ratio (DPR) is presently 10.20%.

Insider Activity

In other news, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction of $317,850.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Beker sold 5,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the sale, the executive vice president directly owned 13,970 shares of the company’s stock, valued at approximately $887,514.10. The trade was a 26.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Air Lease

Several hedge funds and other institutional investors have recently made changes to their positions in AL. Brooklyn Investment Group increased its position in shares of Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company’s stock worth $28,000 after acquiring an additional 355 shares in the last quarter. True Wealth Design LLC increased its position in shares of Air Lease by 2,980.0% during the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Air Lease during the third quarter worth about $29,000. First Horizon Corp bought a new stake in shares of Air Lease during the third quarter worth about $31,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Air Lease by 273.2% during the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after acquiring an additional 407 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

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.