Analysts Set Air Lease Corp (AL) Target Price at $53.77

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Air Lease Corp (NYSE:AL) has received a consensus recommendation of “Buy” from the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $53.77.

Several equities analysts recently issued reports on the company. Seaport Global Securities assumed coverage on Air Lease in a research note on Wednesday, October 10th. They set a “buy” rating on the stock. ValuEngine cut Air Lease from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Morgan Stanley reduced their price objective on Air Lease from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 14th. Cowen restated a “buy” rating and set a $54.00 price objective on shares of Air Lease in a research note on Friday, November 30th. Finally, Zacks Investment Research upgraded Air Lease from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Tuesday, November 13th.

Shares of AL stock traded down $0.01 during mid-day trading on Tuesday, reaching $37.93. 480,675 shares of the company were exchanged, compared to its average volume of 979,697. Air Lease has a fifty-two week low of $28.13 and a fifty-two week high of $48.47. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.48. The company has a market capitalization of $3.95 billion, a P/E ratio of 10.39, a PEG ratio of 0.81 and a beta of 2.11.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, November 8th. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.09. Air Lease had a net margin of 51.81% and a return on equity of 11.44%. The business had revenue of $450.70 million during the quarter, compared to the consensus estimate of $443.01 million. During the same quarter last year, the company earned $1.50 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, research analysts predict that Air Lease will post 4.59 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 9th. Investors of record on Thursday, December 13th were paid a dividend of $0.13 per share. This is a boost from Air Lease’s previous quarterly dividend of $0.10. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, December 12th. Air Lease’s payout ratio is currently 14.25%.

In other news, insider Steven F. Udvar-Hazy bought 3,000 shares of the stock in a transaction that occurred on Friday, December 14th. The shares were purchased at an average cost of $34.29 per share, with a total value of $102,870.00. Following the completion of the acquisition, the insider now directly owns 947,682 shares in the company, valued at $32,496,015.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven F. Udvar-Hazy bought 2,000 shares of the stock in a transaction that occurred on Tuesday, December 11th. The shares were purchased at an average cost of $35.77 per share, for a total transaction of $71,540.00. Following the completion of the acquisition, the insider now owns 947,682 shares of the company’s stock, valued at $33,898,585.14. The disclosure for this purchase can be found here. 9.32% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in AL. First Mercantile Trust Co. increased its stake in Air Lease by 41.5% in the 4th quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock worth $28,000 after purchasing an additional 270 shares in the last quarter. First Interstate Bank purchased a new position in Air Lease in the 4th quarter worth about $36,000. ETF Managers Group LLC increased its stake in Air Lease by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 3,060 shares of the transportation company’s stock worth $92,000 after purchasing an additional 417 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Air Lease by 1,105.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 37,552 shares of the transportation company’s stock worth $100,000 after purchasing an additional 34,436 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Air Lease by 2,075.2% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 2,980 shares of the transportation company’s stock worth $137,000 after purchasing an additional 2,843 shares in the last quarter. 88.53% of the stock is currently owned by hedge funds and other 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.

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Analyst Recommendations for Air Lease (NYSE:AL)

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