Air Lease (NYSE:AL) Coverage Initiated at TD Cowen

TD Cowen assumed coverage on shares of Air Lease (NYSE:AL) in a research note published on Monday, MarketBeat.com reports. The firm issued a buy rating and a $58.00 target price on the transportation company’s stock.

Separately, Barclays lifted their price objective on Air Lease from $48.00 to $55.00 and gave the company an overweight rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Air Lease has an average rating of Moderate Buy and a consensus target price of $54.20.

Air Lease Price Performance

NYSE:AL opened at $47.74 on Monday. Air Lease has a 12-month low of $33.33 and a 12-month high of $52.31. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 1.05 and a beta of 1.59. The company’s 50-day moving average is $47.44 and its two-hundred day moving average is $46.45. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.07). The firm had revenue of $663.31 million for the quarter, compared to analysts’ expectations of $677.26 million. Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 EPS. Research analysts expect that Air Lease will post 6.68 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its holdings in Air Lease by 1.2% in the 1st quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock valued at $966,000 after purchasing an additional 217 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Air Lease by 1.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock worth $1,119,000 after buying an additional 291 shares in the last quarter. Janney Capital Management LLC boosted its position in Air Lease by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 10,668 shares of the transportation company’s stock valued at $447,000 after buying an additional 325 shares during the last quarter. Neo Ivy Capital Management grew its stake in shares of Air Lease by 32.4% during the fourth quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 330 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Air Lease by 6.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 6,492 shares of the transportation company’s stock worth $272,000 after acquiring an additional 404 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

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.