Air Lease Corporation (NYSE:AL) had its target price upped by Cowen and Company from $41.00 to $45.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the transportation company’s stock. Cowen and Company’s price objective would indicate a potential upside of 5.73% from the stock’s current price.

Several other equities analysts also recently issued reports on the company. BidaskClub upgraded Air Lease Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. ValuEngine upgraded Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. FBR & Co decreased their price objective on Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, May 5th. Finally, Morgan Stanley cut Air Lease Corporation from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research note on Thursday, April 6th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $45.43.

Shares of Air Lease Corporation (AL) traded up 6.59% during trading on Friday, hitting $42.56. The company’s stock had a trading volume of 1,965,399 shares. The firm’s 50 day moving average is $38.43 and its 200-day moving average is $37.86. The company has a market capitalization of $4.39 billion, a P/E ratio of 12.67 and a beta of 1.78. Air Lease Corporation has a 1-year low of $27.05 and a 1-year high of $42.57.

Air Lease Corporation (NYSE:AL) last announced its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.08. Air Lease Corporation had a return on equity of 11.14% and a net margin of 25.64%. The company had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. During the same quarter last year, the firm earned $1.39 EPS. Air Lease Corporation’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts forecast that Air Lease Corporation will post $3.42 EPS for the current fiscal year.

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In other news, EVP Kishore Korde sold 2,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,410 shares in the company, valued at approximately $3,283,580. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Grant A. Levy sold 27,854 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total value of $1,062,908.64. Following the completion of the transaction, the executive vice president now owns 210,824 shares of the company’s stock, valued at $8,045,043.84. The disclosure for this sale can be found here. Company insiders own 9.76% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AL. Alps Advisors Inc. raised its position in shares of Air Lease Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,316 shares of the transportation company’s stock valued at $460,000 after buying an additional 32 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Air Lease Corporation by 0.9% in the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock worth $150,000 after buying an additional 35 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Air Lease Corporation by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 7,877 shares of the transportation company’s stock worth $294,000 after buying an additional 134 shares during the last quarter. Garrison Bradford & Associates Inc. increased its stake in shares of Air Lease Corporation by 0.9% in the first quarter. Garrison Bradford & Associates Inc. now owns 21,900 shares of the transportation company’s stock worth $849,000 after buying an additional 200 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of Air Lease Corporation by 1.8% in the first quarter. Suntrust Banks Inc. now owns 12,725 shares of the transportation company’s stock worth $493,000 after buying an additional 231 shares during the last quarter. 92.09% of the stock is owned by institutional investors and hedge funds.

About Air Lease Corporation

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.

Analyst Recommendations for Air Lease Corporation (NYSE:AL)

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