AerSale (NASDAQ:ASLE) Rating Lowered to “Strong Sell” at Zacks Research

AerSale (NASDAQ:ASLE) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other analysts have also issued research reports about the stock. B. Riley Financial assumed coverage on shares of AerSale in a research note on Monday, June 29th. They set a “neutral” rating and a $7.50 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AerSale in a report on Wednesday, August 12th. Royal Bank Of Canada lowered their price objective on shares of AerSale from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Monday, August 10th. Finally, Wall Street Zen lowered shares of AerSale from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $6.83.

AerSale Stock Down 0.4%

Shares of AerSale stock opened at $5.63 on Thursday. The business has a 50-day moving average price of $6.10 and a 200 day moving average price of $6.47. AerSale has a fifty-two week low of $5.52 and a fifty-two week high of $8.91. The firm has a market cap of $268.72 million, a P/E ratio of -70.38 and a beta of 0.28. The company has a quick ratio of 0.76, a current ratio of 3.27 and a debt-to-equity ratio of 0.01.

AerSale (NASDAQ:ASLE) last released its earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The firm had revenue of $70.93 million for the quarter, compared to the consensus estimate of $81.24 million. AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%. On average, sell-side analysts forecast that AerSale will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at AerSale

In other news, insider Gary Edmund Jones sold 7,491 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total transaction of $47,492.94. Following the transaction, the insider directly owned 162,405 shares of the company’s stock, valued at approximately $1,029,647.70. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 AerSale stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $26,513.88. Following the sale, the insider owned 213,531 shares in the company, valued at approximately $1,353,786.54. This 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. Over the last quarter, insiders sold 21,316 shares of company stock valued at $135,160. 20.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AerSale

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASLE. Deutsche Bank AG lifted its position in AerSale by 6.0% in the fourth quarter. Deutsche Bank AG now owns 32,846 shares of the company’s stock worth $234,000 after purchasing an additional 1,850 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in AerSale by 39.0% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock valued at $55,000 after buying an additional 2,477 shares in the last quarter. Alliancebernstein L.P. boosted its stake in AerSale by 6.0% during the third quarter. Alliancebernstein L.P. now owns 48,270 shares of the company’s stock valued at $395,000 after buying an additional 2,740 shares in the last quarter. Raymond James Financial Inc. grew its holdings in AerSale by 6.7% during the third quarter. Raymond James Financial Inc. now owns 44,360 shares of the company’s stock worth $363,000 after acquiring an additional 2,775 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in AerSale by 45.6% during the third quarter. BNP Paribas Financial Markets now owns 9,813 shares of the company’s stock worth $80,000 after acquiring an additional 3,071 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.