Air Lease Corporation (AL) Given a $47.00 Price Target by Bank of America Corporation Analysts
Air Lease Corporation (NYSE:AL) has been assigned a $47.00 target price by equities researchers at Bank of America Corporation in a research note issued to investors on Thursday. The firm currently has a “hold” rating on the transportation company’s stock. Bank of America Corporation’s price objective indicates a potential upside of 9.12% from the company’s current price.
A number of other research analysts also recently commented on the stock. Royal Bank Of Canada increased their target price on shares of Air Lease Corporation from $79.00 to $80.00 and gave the company a “top pick” rating in a research report on Friday, September 29th. BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Cowen and Company increased their target price on shares of Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Finally, Barclays PLC began coverage on shares of Air Lease Corporation in a research report on Monday, July 10th. They issued an “overweight” rating and a $48.00 target price on the stock. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $50.13.
Air Lease Corporation (NYSE AL) traded down 0.83% during midday trading on Thursday, hitting $43.07. 838,548 shares of the stock traded hands. Air Lease Corporation has a one year low of $29.26 and a one year high of $44.59. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 12.54 and a beta of 1.79. The company has a 50-day moving average price of $41.71 and a 200 day moving average price of $39.12.
Air Lease Corporation (NYSE:AL) last posted its earnings results on Thursday, August 3rd. The transportation company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.08. The firm had revenue of $380.59 million for the quarter, compared to the consensus estimate of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. Equities research analysts anticipate that Air Lease Corporation will post $3.46 earnings per share for the current year.
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In related news, EVP Alex A. Khatibi sold 11,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $40.00, for a total transaction of $440,000.00. Following the completion of the sale, the executive vice president now owns 142,786 shares in the company, valued at approximately $5,711,440. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marc H. Baer sold 7,562 shares of the stock in a transaction 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 sale, the executive vice president now owns 132,001 shares of the company’s stock, valued at approximately $5,243,079.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,562 shares of company stock valued at $1,342,363. 9.76% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Israel Discount Bank of New York lifted its stake in shares of Air Lease Corporation by 7.7% in the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock worth $104,000 after acquiring an additional 200 shares during the period. Fiduciary Trust Co. acquired a new stake in shares of Air Lease Corporation in the 2nd quarter worth $111,000. QS Investors LLC lifted its stake in shares of Air Lease Corporation by 0.6% in the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after acquiring an additional 21 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Air Lease Corporation by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after acquiring an additional 331 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of Air Lease Corporation by 14.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock worth $183,000 after acquiring an additional 621 shares during the period. Institutional investors own 92.16% 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.
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