Air Lease (NYSE:AL) Reaches New 1-Year High at $52.31

Air Lease Co. (NYSE:AL)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $52.31 and last traded at $52.05, with a volume of 49883 shares trading hands. The stock had previously closed at $51.56.

Analyst Ratings Changes

Several research firms recently issued reports on AL. StockNews.com cut Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Barclays lifted their price objective on Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets upped their target price on Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.25.

Air Lease Trading Up 0.2 %

The company has a debt-to-equity ratio of 2.68, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50 day moving average is $46.25 and its 200-day moving average is $41.63. The company has a market capitalization of $5.75 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.70 and a beta of 1.65.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, February 15th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.79. The firm had revenue of $716.57 million during the quarter, compared to analyst estimates of $672.95 million. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The business’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, equities research analysts anticipate that Air Lease Co. will post 5.64 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 15th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.63%. Air Lease’s dividend payout ratio (DPR) is 16.31%.

Insider Activity

In related news, EVP Carol Hyland Forsyte sold 3,046 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the sale, the executive vice president now owns 72,073 shares of the company’s stock, valued at $2,884,361.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Alex A. Khatibi sold 11,199 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $47.37, for a total transaction of $530,496.63. Following the completion of the transaction, the executive vice president now directly owns 76,300 shares in the company, valued at $3,614,331. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Carol Hyland Forsyte sold 3,046 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the transaction, the executive vice president now owns 72,073 shares in the company, valued at approximately $2,884,361.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,646 shares of company stock worth $3,705,152. Corporate insiders own 6.64% of the company’s stock.

Institutional Investors Weigh In On Air Lease

Institutional investors have recently made changes to their positions in the company. Janney Capital Management LLC raised its holdings in shares of Air Lease by 2.8% during the third quarter. Janney Capital Management LLC now owns 10,343 shares of the transportation company’s stock valued at $408,000 after purchasing an additional 281 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC grew its stake in shares of Air Lease by 0.6% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 50,266 shares of the transportation company’s stock valued at $1,981,000 after purchasing an additional 290 shares during the period. Neo Ivy Capital Management boosted its holdings in shares of Air Lease by 32.4% in the fourth quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock worth $57,000 after buying an additional 330 shares during the last quarter. Quent Capital LLC increased its holdings in Air Lease by 10.4% during the fourth quarter. Quent Capital LLC now owns 3,798 shares of the transportation company’s stock valued at $159,000 after buying an additional 358 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Air Lease by 6.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,088 shares of the transportation company’s stock worth $240,000 after acquiring an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

About Air Lease

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.