AerSale (NASDAQ:ASLE) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of AerSale (NASDAQ:ASLE) from a sell rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Several other brokerages have also issued reports on ASLE. Zacks Research upgraded AerSale from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Royal Bank Of Canada dropped their target price on shares of AerSale from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AerSale in a research note on Tuesday. Finally, B. Riley Financial reduced their price target on shares of AerSale from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Monday, November 9th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AerSale has an average rating of “Reduce” and an average target price of $5.75.

AerSale Trading Up 0.2%

Shares of ASLE traded up $0.01 during trading hours on Friday, reaching $5.15. The stock had a trading volume of 284,094 shares, compared to its average volume of 414,642. The company has a quick ratio of 0.76, a current ratio of 3.80 and a debt-to-equity ratio of 0.01. AerSale has a 52 week low of $4.52 and a 52 week high of $7.93. The firm has a 50-day moving average of $5.08 and a 200 day moving average of $6.14. The company has a market cap of $245.81 million, a P/E ratio of -13.21 and a beta of 0.23.

AerSale (NASDAQ:ASLE) last posted its earnings results on Thursday, November 5th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.13). AerSale had a negative return on equity of 0.73% and a negative net margin of 5.76%. The business had revenue of $91.56 million for the quarter, compared to the consensus estimate of $91.22 million. On average, sell-side analysts expect that AerSale will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AerSale

A number of large investors have recently bought and sold shares of the company. Private Management Group Inc. raised its holdings in shares of AerSale by 168.0% in the third quarter. Private Management Group Inc. now owns 2,974,446 shares of the company’s stock valued at $15,586,000 after purchasing an additional 1,864,641 shares during the last quarter. BlackRock Inc. bought a new position in AerSale in the second quarter valued at $17,358,000. Dimensional Fund Advisors LP increased its stake in AerSale by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company’s stock valued at $8,691,000 after buying an additional 110,360 shares during the last quarter. Raffles Associates LP acquired a new stake in AerSale in the 2nd quarter valued at $2,907,000. Finally, Bank of New York Mellon Corp bought a new stake in AerSale during the 2nd quarter worth about $970,000. Institutional investors and hedge funds own 69.48% of the company’s stock.

AerSale Company Profile

AerSale is an aviation aftermarket company that provides aircraft, engines, parts and support services to commercial airlines, cargo operators, aircraft lessors and other aviation customers. Its activities include acquiring and remarketing aircraft and engines, as well as dismantling aircraft and supplying serviceable components. The company also offers maintenance, repair and overhaul services for aircraft and engines, along with engineering and asset-management support. Its technology offerings include products designed to help improve aircraft safety and operational performance.