Air Lease (AL) Upgraded to “Buy” at Zacks Investment Research

Air Lease (NYSE:AL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, January 9th. The brokerage presently has a $55.00 target price on the transportation company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.71% from the company’s current price.

According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “

Other research analysts have also recently issued reports about the company. Royal Bank of Canada upped their price target on Air Lease from $79.00 to $80.00 and gave the stock a “top pick” rating in a research note on Friday, September 29th. ValuEngine cut Air Lease from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. UBS Group upped their price target on Air Lease from $30.00 to $31.00 and gave the stock a “sell” rating in a research note on Friday, November 10th. Cowen increased their price objective on Air Lease from $45.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Bank of America set a $47.00 price objective on Air Lease and gave the company a “hold” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $49.40.

Air Lease (AL) traded up $0.33 on Tuesday, reaching $50.13. The company had a trading volume of 490,300 shares, compared to its average volume of 705,889. Air Lease has a 12-month low of $34.42 and a 12-month high of $50.21. The firm has a market capitalization of $5,080.00, a PE ratio of 14.41, a PEG ratio of 1.26 and a beta of 1.81. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. The firm had revenue of $376.77 million for the quarter, compared to analysts’ expectations of $374.61 million. During the same period in the prior year, the firm posted $1.43 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. equities analysts predict that Air Lease will post 3.44 earnings per share for the current year.

In related news, EVP Kishore Korde sold 2,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $40.80, for a total value of $81,600.00. Following the transaction, the executive vice president now owns 84,410 shares of the company’s stock, valued at $3,443,928. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jie Chen sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $47.96, for a total value of $191,840.00. The disclosure for this sale can be found here. Insiders sold 379,000 shares of company stock worth $15,939,110 in the last three months. 9.76% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of AL. Fiduciary Trust Co. purchased a new position in shares of Air Lease during the second quarter worth about $111,000. Zions Bancorporation purchased a new position in shares of Air Lease during the third quarter worth about $114,000. QS Investors LLC grew its holdings in shares of Air Lease by 0.6% during the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after buying an additional 21 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Air Lease by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after buying an additional 331 shares during the last quarter. Finally, Sciencast Management LP purchased a new position in shares of Air Lease during the second quarter worth about $235,000. 91.87% of the stock is currently owned by institutional investors.

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About Air Lease

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.

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