AerSale (NASDAQ:ASLE) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of AerSale (NASDAQ:ASLE) from a hold rating to a sell rating in a report issued on Saturday morning.

A number of other equities research analysts have also issued reports on the stock. B. Riley Financial assumed coverage on shares of AerSale in a research note on Monday, June 29th. They issued a “neutral” rating and a $7.50 target price on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of AerSale in a research note on Wednesday. Royal Bank Of Canada decreased their price target on AerSale from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Monday, August 10th. Finally, Zacks Research raised AerSale to a “hold” rating in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AerSale presently has an average rating of “Reduce” and a consensus target price of $6.83.

AerSale Stock Up 2.6%

Shares of NASDAQ:ASLE opened at $5.87 on Friday. The firm has a market cap of $280.18 million, a PE ratio of -73.38 and a beta of 0.28. The company has a fifty day simple moving average of $6.23 and a 200 day simple moving average of $6.59. The company has a current ratio of 3.27, a quick ratio of 0.89 and a debt-to-equity ratio of 0.01. AerSale has a 12-month low of $5.56 and a 12-month high of $9.12.

AerSale (NASDAQ:ASLE) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The company had revenue of $70.93 million for the quarter, compared to the consensus estimate of $81.24 million. AerSale had a negative net margin of 1.23% and a negative return on equity of 0.27%. On average, equities research analysts anticipate that AerSale will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other AerSale news, insider Martin Garmendia sold 6,094 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $38,635.96. Following the sale, the insider directly owned 183,377 shares of the company’s stock, valued at approximately $1,162,610.18. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Frederick Craig Wright sold 4,182 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total transaction of $26,513.88. Following the sale, the insider directly owned 213,531 shares in the company, valued at $1,353,786.54. This trade represents a 1.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 21,316 shares of company stock valued at $135,160 over the last 90 days. 20.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On AerSale

A number of institutional investors have recently modified their holdings of ASLE. BlackRock Inc. acquired a new stake in AerSale during the second quarter worth about $17,358,000. Marshall Wace LLP grew its holdings in shares of AerSale by 277.4% during the third quarter. Marshall Wace LLP now owns 1,509,517 shares of the company’s stock valued at $12,363,000 after purchasing an additional 1,109,550 shares during the last quarter. Earnest Partners LLC bought a new position in shares of AerSale during the fourth quarter valued at approximately $5,110,000. Alyeska Investment Group L.P. acquired a new stake in shares of AerSale during the 4th quarter worth approximately $4,977,000. Finally, M3F Inc. raised its position in shares of AerSale by 20.0% during the 1st quarter. M3F Inc. now owns 3,983,632 shares of the company’s stock worth $24,778,000 after purchasing an additional 664,487 shares during the period. Institutional investors own 69.48% of the company’s stock.

About AerSale

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.