Air Lease Co. (NYSE:AL) Receives $57.60 Consensus Target Price from Brokerages

Air Lease Co. (NYSE:AL) has earned a consensus recommendation of “Buy” from the five brokerages that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $57.60.

AL has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group reissued a “buy” rating and set a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. Finally, Barclays reduced their target price on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd.

Air Lease Trading Down 1.0 %

Shares of NYSE AL opened at $50.71 on Thursday. Air Lease has a twelve month low of $37.75 and a twelve month high of $52.31. The company’s fifty day moving average is $45.79 and its 200-day moving average is $46.13. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.61 and a beta of 1.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s payout ratio is presently 19.13%.

Hedge Funds Weigh In On Air Lease

Hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its position in Air Lease by 0.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock valued at $2,429,000 after purchasing an additional 314 shares in the last quarter. BNP Paribas Financial Markets grew its position in Air Lease by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock valued at $157,000 after acquiring an additional 389 shares during the last quarter. CWM LLC raised its stake in Air Lease by 16.5% during the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock worth $148,000 after acquiring an additional 440 shares in the last quarter. Hilltop National Bank boosted its stake in shares of Air Lease by 33.8% in the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 448 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of Air Lease by 11.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,819 shares of the transportation company’s stock valued at $218,000 after purchasing an additional 511 shares during the last quarter. 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.