Traders Buy Large Volume of Call Options on Air Lease Corp (AL)
Shares of Air Lease Corp (NYSE:AL) saw some unusual options trading activity on Thursday. Traders purchased 461 call options on the company, StockRatingsNetwork reports. This represents an increase of approximately 469% compared to the typical daily volume of 81 call options.
In other Air Lease Corp news, EVP Alex A. Khatibi unloaded 1,250 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $35.68, for a total value of $44,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on AL shares. Analysts at RBC Capital upgraded shares of Air Lease Corp from an “outperform” rating to a “top pick” rating in a research note on Monday. They now have a $49.00 price target on the stock. They noted that the move was a valuation call. Finally, 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. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Air Lease Corp currently has a consensus rating of “Buy” and an average price target of $42.25.
Shares of Air Lease Corp (NYSE:AL) traded down 0.31% during mid-day trading on Thursday, hitting $35.30. The stock had a trading volume of 996,421 shares. Air Lease Corp has a 1-year low of $25.74 and a 1-year high of $42.89. The stock’s 50-day moving average is $37.18 and its 200-day moving average is $36.66. The company has a market cap of $3.598 billion and a price-to-earnings ratio of 17.80.
Air Lease Corp (NYSE:AL) last released its earnings data on Thursday, August 7th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $256.30 million for the quarter, compared to the consensus estimate of $246.16 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Analysts expect that Air Lease Corp will post $2.31 EPS for the current fiscal year.
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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