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

Air Lease Co. (NYSE:AL)’s share price gapped down prior to trading on Friday after Barclays lowered their price target on the stock from $55.00 to $54.00. The stock had previously closed at $47.71, but opened at $41.23. Barclays currently has an overweight rating on the stock. Air Lease shares last traded at $40.97, with a volume of 42,394 shares changing hands.

Separately, TD Cowen initiated coverage on shares of Air Lease in a report on Monday. They set a “buy” rating and a $58.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Hedge Funds Weigh In On Air Lease

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

Air Lease Price Performance

The company’s fifty day moving average is $47.44 and its two-hundred day moving average is $46.45. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.59.

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

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.