Air Lease Corp (NYSE:AL) insider Steven F. Udvar-Hazy sold 24,564 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $44.25, for a total value of $1,086,957.00. Following the completion of the sale, the insider now owns 952,376 shares of the company’s stock, valued at approximately $42,142,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of AL stock traded down $2.42 during trading hours on Friday, reaching $41.52. 1,324,654 shares of the company’s stock were exchanged, compared to its average volume of 725,772. The company has a market cap of $4,513.76, a PE ratio of 11.38 and a beta of 1.70. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 2.35. Air Lease Corp has a fifty-two week low of $34.42 and a fifty-two week high of $50.70.
Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, February 22nd. The transportation company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.19. The business had revenue of $398.47 million for the quarter, compared to the consensus estimate of $380.93 million. Air Lease had a return on equity of 10.91% and a net margin of 49.87%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. equities analysts forecast that Air Lease Corp will post 4.34 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Calton & Associates Inc. acquired a new position in shares of Air Lease during the fourth quarter worth $102,000. Zions Bancorporation acquired a new position in shares of Air Lease during the third quarter worth $114,000. Whittier Trust Co. acquired a new position in shares of Air Lease during the fourth quarter worth $141,000. Comerica Bank acquired a new position in shares of Air Lease during the fourth quarter worth $213,000. Finally, Parametrica Management Ltd acquired a new position in shares of Air Lease in the 4th quarter valued at $225,000. 90.45% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on AL. Zacks Investment Research raised shares of Air Lease from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, January 9th. Citigroup began coverage on shares of Air Lease in a research note on Friday, December 8th. They issued a “neutral” rating and a $46.00 price objective for the company. UBS reissued a “sell” rating and issued a $32.00 price objective (up previously from $31.00) on shares of Air Lease in a research note on Wednesday, February 21st. Macquarie began coverage on shares of Air Lease in a research note on Tuesday, March 13th. They issued an “outperform” rating for the company. Finally, Bank of America raised shares of Air Lease from a “neutral” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Air Lease has a consensus rating of “Buy” and a consensus target price of $52.05.
Air Lease Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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