Air Lease (AL) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Air Lease (NYSE:AL) from a hold rating to a buy rating in a report released on Tuesday, May 8th.

Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group reiterated an outperform rating and set a $57.00 target price (up previously from $55.00) on shares of Air Lease in a research report on Friday, February 23rd. JPMorgan Chase raised their target price on shares of Air Lease from $48.00 to $54.50 and gave the company an overweight rating in a research note on Tuesday, March 6th. Morgan Stanley increased their price target on shares of Air Lease from $47.00 to $48.00 and gave the company an equal weight rating in a research report on Thursday, April 12th. Zacks Investment Research downgraded shares of Air Lease from a buy rating to a hold rating in a research report on Tuesday, March 27th. Finally, Citigroup raised their target price on shares of Air Lease from $46.00 to $53.00 and gave the stock a buy rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Air Lease has an average rating of Buy and a consensus price target of $53.35.

AL stock opened at $44.50 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.72. Air Lease has a 12 month low of $44.67 and a 12 month high of $44.95.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, May 10th. The transportation company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.05. The business had revenue of $381.20 million during the quarter, compared to the consensus estimate of $379.74 million. Air Lease had a net margin of 50.86% and a return on equity of 11.03%. Air Lease’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. equities research analysts predict that Air Lease will post 4.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Tuesday, June 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.90%. Air Lease’s dividend payout ratio (DPR) is 10.96%.

In other news, insider Steven F. Udvar-Hazy sold 24,564 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $44.25, for a total value of $1,086,957.00. Following the completion of the sale, the insider now owns 952,376 shares of the company’s stock, valued at $42,142,638. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kishore Korde sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $44.33, for a total transaction of $88,660.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,077 shares of company stock valued at $3,487,887. Company insiders own 9.32% of the company’s stock.

Several institutional investors have recently made changes to their positions in AL. State of Alaska Department of Revenue acquired a new position in Air Lease in the fourth quarter valued at about $287,000. Teacher Retirement System of Texas raised its stake in Air Lease by 312.7% in the fourth quarter. Teacher Retirement System of Texas now owns 33,492 shares of the transportation company’s stock valued at $1,611,000 after purchasing an additional 25,377 shares in the last quarter. Comerica Bank acquired a new position in Air Lease in the fourth quarter valued at about $213,000. UBS Asset Management Americas Inc. raised its stake in Air Lease by 1.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 103,767 shares of the transportation company’s stock valued at $4,990,000 after purchasing an additional 1,521 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. raised its stake in Air Lease by 5.4% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 47,656 shares of the transportation company’s stock valued at $2,292,000 after purchasing an additional 2,440 shares in the last quarter. 90.06% of the stock is owned by institutional investors.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Air Lease (NYSE:AL)

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