Air Lease Corporation (NYSE:AL) Receives $60.29 Average Price Target from Analysts

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

A number of analysts have recently issued reports on the company. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Barclays reissued an “overweight” rating and set a $67.00 target price (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Wednesday, September 3rd. Finally, Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, September 3rd.

Air Lease Price Performance

Shares of NYSE:AL opened at $63.61 on Friday. Air Lease has a one year low of $38.25 and a one year high of $64.30. The stock has a fifty day moving average of $61.04 and a 200-day moving average of $55.86. The company has a market capitalization of $7.11 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The company had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, equities analysts anticipate that Air Lease will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is 10.68%.

Insider Transactions at Air Lease

In other Air Lease news, EVP David Beker sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $63.53, for a total transaction of $317,650.00. Following the completion of the transaction, the executive vice president owned 13,970 shares in the company, valued at $887,514.10. This trade represents a 26.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Grant A. Levy sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $63.57, for a total transaction of $317,850.00. Following the transaction, the executive vice president owned 141,316 shares of the company’s stock, valued at approximately $8,983,458.12. This represents a 3.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,000 shares of company stock valued at $746,380. Corporate insiders own 6.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Air Lease by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company’s stock valued at $318,479,000 after purchasing an additional 31,274 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Air Lease by 1.3% in the 1st quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company’s stock valued at $263,476,000 after buying an additional 69,629 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Air Lease by 1.2% in the 1st quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company’s stock valued at $242,778,000 after buying an additional 60,216 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Air Lease by 7.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company’s stock valued at $211,797,000 after acquiring an additional 265,423 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Air Lease by 10.4% in the 1st quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company’s stock valued at $172,143,000 after acquiring an additional 336,376 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

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.