AerSale (NASDAQ:ASLE) PT Lowered to $10.00 at Truist Financial

AerSale (NASDAQ:ASLE) had its price objective reduced by Truist Financial from $12.00 to $10.00 in a research note released on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

AerSale Stock Performance

NASDAQ:ASLE opened at $5.16 on Thursday. AerSale has a fifty-two week low of $4.88 and a fifty-two week high of $16.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.11 and a current ratio of 7.17. The company has a 50 day moving average price of $6.70 and a 200 day moving average price of $7.52. The stock has a market capitalization of $273.53 million, a P/E ratio of -516.00 and a beta of 0.25.

AerSale (NASDAQ:ASLE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.15). The firm had revenue of $77.10 million for the quarter, compared to analysts’ expectations of $87.66 million. AerSale had a negative return on equity of 0.87% and a net margin of 0.20%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Equities research analysts forecast that AerSale will post 0.32 EPS for the current year.

Institutional Investors Weigh In On AerSale

Several large investors have recently added to or reduced their stakes in ASLE. Ranger Investment Management L.P. grew its stake in shares of AerSale by 57.2% in the fourth quarter. Ranger Investment Management L.P. now owns 2,278,295 shares of the company’s stock worth $28,923,000 after acquiring an additional 828,836 shares in the last quarter. Private Capital Management LLC increased its holdings in AerSale by 27.4% during the 1st quarter. Private Capital Management LLC now owns 1,849,539 shares of the company’s stock worth $13,280,000 after purchasing an additional 398,200 shares during the period. Janus Henderson Group PLC raised its position in AerSale by 21.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,167,215 shares of the company’s stock valued at $15,560,000 after purchasing an additional 377,397 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of AerSale by 17.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,415,492 shares of the company’s stock valued at $21,147,000 after buying an additional 209,409 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of AerSale by 71.1% during the fourth quarter. Russell Investments Group Ltd. now owns 411,277 shares of the company’s stock worth $5,221,000 after buying an additional 170,958 shares in the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).