Insider Selling: Air Lease Corp EVP Sells 2,000 Shares of Stock (AL)
Air Lease Corp (NYSE:AL) EVP Marc H. Baer sold 2,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $37.81, for a total transaction of $75,620.00. Following the sale, the executive vice president now directly owns 123,599 shares of the company’s stock, valued at approximately $4,673,278. The sale was disclosed in a document filed with the SEC, which is available at 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $41.50.
Air Lease Corp (NYSE:AL) traded up 1.38% during mid-day trading on Tuesday, hitting $38.19. The stock had a trading volume of 1,525,930 shares. Air Lease Corp has a 52 week low of $25.13 and a 52 week high of $42.89. The stock’s 50-day moving average is $38.99 and its 200-day moving average is $35.14. The company has a market cap of $3.892 billion and a P/E ratio of 18.94.
Air Lease Corp (NYSE:AL) last released its earnings data 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. Analysts expect that Air Lease Corp will post $2.33 EPS 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 0.31%. 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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