AerSale (NASDAQ:ASLE) Stock Gets Price Target Reduction from Royal Bank Of Canada

AerSale (NASDAQ:ASLE) had its price target reduced by Royal Bank Of Canada from $7.00 to $6.00 in a report issued on Tuesday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Zacks Research upgraded shares of AerSale from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Wall Street Zen cut shares of AerSale from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. B. Riley Financial reduced their price target on shares of AerSale from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Monday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of AerSale in a research note on Wednesday, August 12th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AerSale presently has an average rating of “Reduce” and a consensus price target of $5.75.

AerSale Trading Down 4.3%

Shares of ASLE stock opened at $5.14 on Tuesday. The company has a current ratio of 3.80, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. The stock has a market cap of $245.33 million, a P/E ratio of -13.18 and a beta of 0.23. The stock has a 50 day simple moving average of $5.09 and a 200 day simple moving average of $6.15. AerSale has a 1 year low of $4.52 and a 1 year high of $7.93.

AerSale (NASDAQ:ASLE) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.13). The company had revenue of $91.56 million for the quarter, compared to the consensus estimate of $91.22 million. AerSale had a negative return on equity of 0.73% and a negative net margin of 5.76%. On average, research analysts predict that AerSale will post 0.03 earnings per share for the current fiscal year.

Institutional Trading of AerSale

Several large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in AerSale in the second quarter valued at about $17,358,000. Private Management Group Inc. lifted its holdings in shares of AerSale by 168.0% in the third quarter. Private Management Group Inc. now owns 2,974,446 shares of the company’s stock worth $15,586,000 after acquiring an additional 1,864,641 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AerSale by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company’s stock worth $8,691,000 after acquiring an additional 110,360 shares during the last quarter. Raffles Associates LP acquired a new stake in shares of AerSale in the 2nd quarter valued at approximately $2,907,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of AerSale in the 2nd quarter valued at approximately $970,000. 69.48% of the stock is owned by institutional investors and hedge funds.

AerSale Company Profile

AerSale is an aviation aftermarket company that provides aircraft, engines, parts and support services to commercial airlines, cargo operators, aircraft lessors and other aviation customers. Its activities include acquiring and remarketing aircraft and engines, as well as dismantling aircraft and supplying serviceable components. The company also offers maintenance, repair and overhaul services for aircraft and engines, along with engineering and asset-management support. Its technology offerings include products designed to help improve aircraft safety and operational performance.