Air Lease (NYSE:AL) Sets New 12-Month High – Time to Buy?

Air Lease Corporation (NYSE:AL)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $64.47 and last traded at $64.3550, with a volume of 1277005 shares traded. The stock had previously closed at $64.42.

Wall Street Analyst Weigh In

AL has been the subject of several research analyst reports. Zacks Research raised Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Barclays reiterated 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, Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.17.

Air Lease Price Performance

The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43. The company has a 50 day moving average price of $64.12 and a 200 day moving average price of $62.27. The firm has a market cap of $7.19 billion, a PE ratio of 7.46, a PEG ratio of 0.56 and a beta of 1.15.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.13. The company had revenue of $725.39 million for the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. Air Lease’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. Sell-side analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 4th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, December 4th. Air Lease’s dividend payout ratio is currently 10.20%.

Insider Activity at Air Lease

In other news, Director Steven F. Udvar-Hazy sold 19,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.12, for a total value of $1,218,280.00. Following the completion of the sale, the director directly owned 1,391,366 shares of the company’s stock, valued at $89,214,387.92. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Grant A. Levy sold 1,000 shares of Air Lease stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.30, for a total value of $64,300.00. Following the completion of the sale, the executive vice president owned 137,206 shares in the company, valued at approximately $8,822,345.80. This trade represents a 0.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 760,593 shares of company stock worth $48,668,588 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Air Lease

A number of hedge funds and other institutional investors have recently bought and sold shares of AL. Mather Group LLC. purchased a new stake in shares of Air Lease during the 3rd quarter worth $29,000. True Wealth Design LLC lifted its stake in shares of Air Lease by 2,980.0% in the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 447 shares during the period. First Horizon Corp purchased a new stake in Air Lease during the third quarter worth about $31,000. Nisa Investment Advisors LLC grew its position in Air Lease by 129.6% during the third quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock worth $34,000 after buying an additional 298 shares during the period. Finally, Hantz Financial Services Inc. grew its position in Air Lease by 75.0% during the third quarter. Hantz Financial Services Inc. now owns 546 shares of the transportation company’s stock worth $35,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

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.