Air Lease Corporation’s (AL) “Buy” Rating Reaffirmed at Royal Bank Of Canada
Air Lease Corporation (NYSE:AL)‘s stock had its “buy” rating reaffirmed by equities researchers at Royal Bank Of Canada in a research report issued on Thursday. They presently have a $80.00 price objective on the transportation company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 84.12% from the company’s current price.
A number of other research analysts have also weighed in on AL. Bank of America Corporation set a $47.00 price objective on Air Lease Corporation and gave the company a “hold” rating in a report on Thursday, October 19th. Zacks Investment Research raised Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub downgraded Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Cowen and Company raised their price objective on Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, Barclays PLC initiated coverage on Air Lease Corporation in a research report on Monday, July 10th. They set an “overweight” rating and a $48.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $50.43.
Air Lease Corporation (NYSE:AL) last announced its earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The firm 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 posted $1.39 EPS. The business’s revenue was up 8.7% on a year-over-year basis.
In other news, EVP Marc H. Baer sold 7,562 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $39.72, for a total value of $300,362.64. Following the completion of the sale, the executive vice president now owns 132,001 shares in the company, valued at $5,243,079.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jie Chen sold 4,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $43.00, for a total value of $172,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,562 shares of company stock worth $1,342,363. Company insiders own 9.76% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. SLS Management LLC acquired a new stake in Air Lease Corporation during the 2nd quarter valued at approximately $1,535,000. Nationwide Fund Advisors grew its position in shares of Air Lease Corporation by 45.4% in the 2nd quarter. Nationwide Fund Advisors now owns 33,684 shares of the transportation company’s stock worth $1,258,000 after acquiring an additional 10,517 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in shares of Air Lease Corporation in the 2nd quarter worth approximately $243,000. NGAM Advisors L.P. grew its position in shares of Air Lease Corporation by 2.4% in the 2nd quarter. NGAM Advisors L.P. now owns 18,717 shares of the transportation company’s stock worth $699,000 after acquiring an additional 447 shares in the last quarter. Finally, State Street Corp grew its position in shares of Air Lease Corporation by 7.1% in the 1st quarter. State Street Corp now owns 1,329,489 shares of the transportation company’s stock worth $51,521,000 after acquiring an additional 88,278 shares in the last quarter. Hedge funds and other institutional investors own 92.12% 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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