Air Lease Corporation (AL) Stock Rating Lowered by BidaskClub
Air Lease Corporation (NYSE:AL) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
A number of other brokerages have also recently weighed in on AL. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada restated a “buy” rating on shares of Air Lease Corporation in a report on Monday, May 15th. Barclays PLC initiated coverage on shares of Air Lease Corporation in a report on Monday, July 10th. They issued an “overweight” rating and a $48.00 price objective for the company. FBR & Co dropped their price objective on shares of Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, May 15th. Finally, Bank of America Corporation cut shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Air Lease Corporation has an average rating of “Buy” and a consensus price target of $45.25.
Shares of Air Lease Corporation (AL) traded down 0.25% during mid-day trading on Friday, reaching $40.01. 652,386 shares of the company’s stock traded hands. The company’s 50 day moving average is $39.21 and its 200 day moving average is $38.14. Air Lease Corporation has a 12-month low of $27.05 and a 12-month high of $43.39. The company has a market cap of $4.13 billion, a P/E ratio of 11.65 and a beta of 1.78.
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, beating analysts’ consensus estimates of $0.84 by $0.08. The firm had revenue of $380.59 million during the quarter, compared to analysts’ expectations of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.39 earnings per share. On average, analysts predict that Air Lease Corporation will post $3.46 EPS for the current fiscal year.
In other news, EVP Kishore Korde sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $38.00, for a total transaction of $76,000.00. Following the completion of the sale, the executive vice president now owns 86,410 shares in the company, valued at approximately $3,283,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jie Chen sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,854 shares of company stock valued at $1,568,909 in the last quarter. 9.76% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Israel Discount Bank of New York bought a new stake in shares of Air Lease Corporation during the first quarter valued at $100,000. Fiduciary Trust Co. bought a new stake in shares of Air Lease Corporation during the second quarter valued at $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Air Lease Corporation by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after buying an additional 331 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 valued at $150,000 after buying an additional 35 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Air Lease Corporation by 14.5% in the second quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock valued at $183,000 after buying an additional 621 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.
Air Lease Corporation Company Profile
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.
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