Air Lease (NYSE:AL) Price Target Raised to $55.00

Air Lease (NYSE:AL) had its price objective raised by stock analysts at Barclays from $48.00 to $55.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Barclays‘s price objective suggests a potential upside of 14.06% from the stock’s previous close.

Several other analysts also recently commented on AL. StockNews.com downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. BMO Capital Markets upped their price target on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.25.

Air Lease Price Performance

Air Lease stock opened at $48.22 on Tuesday. Air Lease has a 12-month low of $33.33 and a 12-month high of $51.77. The stock has a market cap of $5.37 billion, a P/E ratio of 9.36, a PEG ratio of 0.66 and a beta of 1.65. The company has a 50-day moving average price of $45.22 and a 200 day moving average price of $41.09. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.10 by $0.79. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The business had revenue of $716.57 million during the quarter, compared to analyst estimates of $672.95 million. During the same quarter last year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. Sell-side analysts anticipate that Air Lease will post 5.64 earnings per share for the current year.

Insider Transactions at Air Lease

In other Air Lease news, EVP Kishore Korde sold 16,593 shares of Air Lease stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.70, for a total value of $658,742.10. Following the completion of the transaction, the executive vice president now owns 112,375 shares of the company’s stock, valued at $4,461,287.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO John L. Plueger sold 28,515 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $40.06, for a total transaction of $1,142,310.90. Following the completion of the transaction, the chief executive officer now owns 808,842 shares of the company’s stock, valued at $32,402,210.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kishore Korde sold 16,593 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.70, for a total transaction of $658,742.10. Following the transaction, the executive vice president now directly owns 112,375 shares of the company’s stock, valued at approximately $4,461,287.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,646 shares of company stock valued at $3,705,152. 6.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Air Lease

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Air Lease by 2.0% in the third quarter. Vanguard Group Inc. now owns 9,709,215 shares of the transportation company’s stock worth $301,082,000 after acquiring an additional 194,211 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Air Lease by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,834,987 shares of the transportation company’s stock worth $286,660,000 after acquiring an additional 178,632 shares in the last quarter. BlackRock Inc. raised its position in Air Lease by 1.6% in the first quarter. BlackRock Inc. now owns 5,763,177 shares of the transportation company’s stock worth $257,324,000 after acquiring an additional 90,225 shares in the last quarter. Wellington Management Group LLP raised its position in Air Lease by 36.7% in the first quarter. Wellington Management Group LLP now owns 5,446,382 shares of the transportation company’s stock worth $243,180,000 after acquiring an additional 1,460,769 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Air Lease by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 4,542,411 shares of the transportation company’s stock worth $178,834,000 after acquiring an additional 151,988 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.

Air Lease Company Profile

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.