Insider Buying: Air Lease Corp COO Buys 10,000 Shares of Stock (AL)
Air Lease Corp (NYSE:AL) COO John L. Plueger bought 10,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was purchased at an average price of $37.98 per share, for a total transaction of $379,800.00. Following the purchase, the chief operating officer now directly owns 576,065 shares in the company, valued at approximately $21,878,949. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AL has been the subject of a number of recent research reports. Analysts at Macquarie raised their price target on shares of Air Lease Corp from $38.00 to $42.00 in a research note on Monday, May 12th. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Air Lease Corp in a research note on Friday, May 9th. They now have a $38.00 price target on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Air Lease Corp from $40.00 to $41.00 in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.50.
Shares of Air Lease Corp (NYSE:AL) traded down 8.18% during mid-day trading on Thursday, hitting $37.61. The stock had a trading volume of 4,612,761 shares. Air Lease Corp has a 1-year low of $25.13 and a 1-year high of $42.89. The stock’s 50-day moving average is $38.91 and its 200-day moving average is $35.03. The company has a market cap of $3.833 billion and a price-to-earnings ratio of 20.59.
Air Lease Corp (NYSE:AL) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.07. The company had revenue of $246.28 million for the quarter, compared to the consensus estimate of $238.42 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. On average, analysts predict that Air Lease Corp will post $2.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, July 7th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Thursday, June 12th.
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing commercial aircraft which the Company, in turn, lease to airlines around the world.
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