RBC Capital Increases Air Lease Corp Price Target to $49.00 (AL)
Research analysts at RBC Capital upped their price objective on shares of Air Lease Corp (NYSE:AL) from $48.00 to $49.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price would suggest a potential upside of 32.68% from the stock’s previous close.
Air Lease Corp (NYSE:AL) opened at 36.93 on Friday. Air Lease Corp has a 1-year low of $25.74 and a 1-year high of $42.89. The stock has a 50-day moving average of $39.0 and a 200-day moving average of $36.17. The company has a market cap of $3.764 billion and a P/E ratio of 18.87.
Air Lease Corp (NYSE:AL) last announced its 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.
In other Air Lease Corp news, EVP Alex A. Khatibi sold 2,500 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $36.94, for a total value of $92,350.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
AL has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Air Lease Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 10th. They now have a $43.20 price target on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.36.
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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