Air Lease (NYSE:AL) Shares Gap Down Following Analyst Downgrade

Air Lease Co. (NYSE:AL)’s stock price gapped down prior to trading on Tuesday after TD Cowen lowered their price target on the stock from $59.00 to $56.00. The stock had previously closed at $51.55, but opened at $47.01. TD Cowen currently has a buy rating on the stock. Air Lease shares last traded at $46.24, with a volume of 414,221 shares changing hands.

A number of other research firms have also weighed in on AL. BMO Capital Markets boosted their price objective on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. StockNews.com downgraded Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, Barclays raised their price objective on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Insiders Place Their Bets

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 completion of the sale, the executive vice president now owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Carol Hyland Forsyte sold 3,046 shares of the company’s stock in a transaction on 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 directly owns 72,073 shares in the company, valued at approximately $2,884,361.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Alex A. Khatibi sold 11,199 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $47.37, for a total value of $530,496.63. Following the completion of the sale, the executive vice president now owns 76,300 shares in the company, valued at $3,614,331. The disclosure for this sale can be found here. Insiders sold a total of 89,646 shares of company stock valued at $3,705,152 over the last 90 days. 6.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James & Associates grew its position in Air Lease by 1.4% in the 3rd quarter. Raymond James & Associates now owns 362,943 shares of the transportation company’s stock valued at $14,304,000 after buying an additional 4,971 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Air Lease by 8.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,705 shares of the transportation company’s stock valued at $777,000 after purchasing an additional 1,557 shares in the last quarter. Strs Ohio raised its stake in shares of Air Lease by 22.4% in the 3rd quarter. Strs Ohio now owns 44,744 shares of the transportation company’s stock worth $1,763,000 after buying an additional 8,188 shares in the last quarter. Cambiar Investors LLC boosted its stake in Air Lease by 4.6% during the third quarter. Cambiar Investors LLC now owns 110,756 shares of the transportation company’s stock valued at $4,365,000 after buying an additional 4,846 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Air Lease by 5.9% in the third quarter. Fifth Third Bancorp now owns 34,120 shares of the transportation company’s stock worth $1,345,000 after acquiring an additional 1,908 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Down 8.2 %

The stock’s fifty day simple moving average is $47.93 and its two-hundred day simple moving average is $42.52. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 0.64 and a beta of 1.63. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.40 and a current ratio of 0.40.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Friday, May 3rd. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.43). Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The business had revenue of $663.31 million during the quarter, compared to analyst estimates of $677.26 million. During the same quarter last year, the firm posted $1.06 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Air Lease Co. will post 6.22 EPS for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were paid 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 1.78%. Air Lease’s dividend payout ratio is currently 16.31%.

Air Lease Company Profile

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.