Shares of Air Lease Corporation (NYSE:AL) have received an average rating of “Buy” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $45.43.

Several brokerages recently issued reports on AL. BidaskClub raised shares of Air Lease Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. ValuEngine upgraded shares of Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Cowen and Company lifted their target price on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Morgan Stanley lifted their target price on shares of Air Lease Corporation from $40.00 to $42.00 in a research report on Tuesday, July 4th.

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Air Lease Corporation (AL) opened at 39.97 on Friday. Air Lease Corporation has a 12 month low of $27.05 and a 12 month high of $43.39. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 11.64 and a beta of 1.77. The stock’s 50 day moving average is $40.02 and its 200-day moving average is $38.46.

Air Lease Corporation (NYSE:AL) last announced its quarterly earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. The company had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS. Equities analysts anticipate that Air Lease Corporation will post $3.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Wednesday, September 13th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.30 annualized dividend and a yield of 0.75%. Air Lease Corporation’s dividend payout ratio is presently 8.70%.

In other news, EVP Jie Chen sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $43.00, for a total value of $430,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marc H. Baer sold 7,562 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $39.72, for a total transaction of $300,362.64. Following the completion of the transaction, the executive vice president now owns 132,001 shares in the company, valued at approximately $5,243,079.72. The disclosure for this sale can be found here. Insiders sold a total of 28,562 shares of company stock worth $1,170,363 in the last 90 days. Corporate insiders own 9.76% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AL. Bank of Montreal Can lifted its position in shares of Air Lease Corporation by 0.9% in the 1st quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock worth $150,000 after purchasing an additional 35 shares during the period. Nationwide Fund Advisors lifted its position in shares of Air Lease Corporation by 49.6% in the 1st quarter. Nationwide Fund Advisors now owns 23,167 shares of the transportation company’s stock worth $898,000 after purchasing an additional 7,682 shares during the period. LSV Asset Management lifted its position in shares of Air Lease Corporation by 797.6% in the 1st quarter. LSV Asset Management now owns 81,683 shares of the transportation company’s stock worth $3,165,000 after purchasing an additional 72,583 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Air Lease Corporation by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 492,147 shares of the transportation company’s stock worth $19,071,000 after purchasing an additional 7,699 shares during the period. Finally, Suntrust Banks Inc. lifted its position in shares of Air Lease Corporation by 1.8% in the 1st quarter. Suntrust Banks Inc. now owns 12,725 shares of the transportation company’s stock worth $493,000 after purchasing an additional 231 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

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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