Royal Bank Of Canada Reaffirms Buy Rating for Air Lease Corporation (NYSE:AL)

Air Lease Corporation (NYSE:AL)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank Of Canada in a note issued to investors on Thursday, November 2nd. They currently have a $80.00 target price on the transportation company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 92.35% from the company’s current price.

A number of other analysts have also weighed in on the stock. Bank of America Corporation lowered shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Wednesday, August 9th. BidaskClub lowered shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Cowen and Company increased their price objective on Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Barclays PLC started coverage on Air Lease Corporation in a report on Monday, July 10th. They issued an “overweight” rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.78.

Air Lease Corporation (NYSE:AL) traded up $0.12 during midday trading on Thursday, reaching $41.59. 478,888 shares of the company’s stock were exchanged, compared to its average volume of 750,204. Air Lease Corporation has a 52 week low of $34.21 and a 52 week high of $45.15. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $4,280.00, a PE ratio of 11.92, a P/E/G ratio of 1.25 and a beta of 1.83.

Air Lease Corporation (NYSE:AL) last posted its earnings results on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. The company had revenue of $376.77 million for the quarter, compared to analysts’ expectations of $374.61 million. Air Lease Corporation had a net margin of 25.67% and a return on equity of 10.87%. Air Lease Corporation’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 earnings per share. equities research analysts anticipate that Air Lease Corporation will post 3.46 EPS for the current fiscal year.

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In related news, EVP Marc H. Baer sold 7,562 shares of Air Lease Corporation stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $39.72, for a total transaction of $300,362.64. Following the completion of the sale, the executive vice president now owns 132,001 shares in the company, valued at approximately $5,243,079.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John L. Plueger sold 300,000 shares of Air Lease Corporation stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $41.34, for a total value of $12,402,000.00. Following the sale, the chief executive officer now owns 1,057,310 shares of the company’s stock, valued at approximately $43,709,195.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 326,562 shares of company stock valued at $13,483,603. Company insiders own 9.76% of the company’s stock.

Large investors have recently modified their holdings of the business. Zions Bancorporation acquired a new stake in Air Lease Corporation in the 3rd quarter worth about $114,000. Israel Discount Bank of New York lifted its stake in shares of Air Lease Corporation by 7.7% in the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock valued at $104,000 after purchasing an additional 200 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of Air Lease Corporation in the 2nd quarter valued at about $111,000. QS Investors LLC lifted its stake in shares of Air Lease Corporation by 0.6% in the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 21 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Air Lease Corporation by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after purchasing an additional 331 shares in the last quarter. 92.11% of the stock is currently owned by hedge funds and other institutional investors.

About Air Lease Corporation

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.

Analyst Recommendations for Air Lease Corporation (NYSE:AL)

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