Air Lease Corporation (NYSE:AL) Given Average Recommendation of “Hold” by Analysts

Shares of Air Lease Corporation (NYSE:AL) have been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $59.1667.

A number of equities analysts have commented on AL shares. Zacks Research raised Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Finally, Barclays restated an “equal weight” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Air Lease in a report on Tuesday, January 6th.

Air Lease Stock Performance

AL opened at $64.74 on Friday. The firm’s fifty day simple moving average is $64.32 and its two-hundred day simple moving average is $62.85. Air Lease has a 52-week low of $38.25 and a 52-week high of $64.76. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 0.56 and a beta of 1.13. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.42.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.74. Air Lease had a net margin of 35.72% and a return on equity of 8.63%. The firm had revenue of $679.54 million during the quarter, compared to the consensus estimate of $782.67 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts anticipate that Air Lease will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Monday, March 2nd will be given a dividend of $0.22 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease’s payout ratio is presently 9.45%.

Insider Activity at Air Lease

In other news, EVP Grant A. Levy sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.30, for a total transaction of $64,300.00. Following the transaction, the executive vice president directly owned 137,206 shares in the company, valued at $8,822,345.80. The trade was a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven F. Udvar-Hazy sold 19,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $64.12, for a total value of $1,218,280.00. Following the completion of the sale, the director owned 1,391,366 shares of the company’s stock, valued at $89,214,387.92. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 692,185 shares of company stock valued at $44,301,155. Corporate insiders own 6.64% of the company’s stock.

Hedge Funds Weigh In On Air Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its holdings in shares of Air Lease by 2,980.0% during the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares during the period. Mather Group LLC. purchased a new stake in shares of Air Lease in the third quarter valued at about $29,000. First Horizon Corp acquired a new stake in Air Lease during the third quarter worth about $31,000. Los Angeles Capital Management LLC purchased a new position in Air Lease during the fourth quarter worth about $32,000. Finally, Parkside Financial Bank & Trust raised its stake in Air Lease by 273.2% during the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after purchasing an additional 407 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.