Air Lease (NYSE:AL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “

AL has been the subject of several other research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Air Lease in a research note on Thursday, November 2nd. UBS Group lifted their price objective on shares of Air Lease from $30.00 to $31.00 and gave the company a “sell” rating in a research note on Friday, November 10th. Citigroup assumed coverage on shares of Air Lease in a research note on Friday, December 8th. They issued a “neutral” rating and a $46.00 price objective for the company. ValuEngine lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Credit Suisse Group lifted their price objective on shares of Air Lease from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.40.

Shares of Air Lease (NYSE:AL) traded down $0.80 during trading hours on Wednesday, hitting $48.45. 722,400 shares of the company’s stock were exchanged, compared to its average volume of 808,150. The firm has a market cap of $5,020.00, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.27 and a beta of 1.81. Air Lease has a 52 week low of $34.42 and a 52 week high of $49.58. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $376.77 million during the quarter, compared to analyst estimates of $374.61 million. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.43 EPS. sell-side analysts expect that Air Lease will post 3.45 earnings per share for the current year.

In other Air Lease news, EVP Kishore Korde sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $40.80, for a total transaction of $81,600.00. Following the completion of the transaction, the executive vice president now owns 84,410 shares of the company’s stock, valued at approximately $3,443,928. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jie Chen sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $47.96, for a total transaction of $191,840.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 379,000 shares of company stock valued at $15,939,110. Company insiders own 9.76% of the company’s stock.

Several large investors have recently bought and sold shares of AL. Cedar Hill Associates LLC bought a new position in shares of Air Lease during the 2nd quarter worth about $7,768,000. LSV Asset Management increased its holdings in shares of Air Lease by 225.9% during the 2nd quarter. LSV Asset Management now owns 266,183 shares of the transportation company’s stock worth $9,944,000 after purchasing an additional 184,500 shares during the period. UBS Oconnor LLC bought a new position in shares of Air Lease during the 2nd quarter worth about $6,818,000. Cobalt Capital Management Inc. increased its holdings in shares of Air Lease by 29.3% during the 2nd quarter. Cobalt Capital Management Inc. now owns 771,629 shares of the transportation company’s stock worth $28,828,000 after purchasing an additional 175,000 shares during the period. Finally, Boston Partners increased its holdings in shares of Air Lease by 2.0% during the 3rd quarter. Boston Partners now owns 8,664,181 shares of the transportation company’s stock worth $369,267,000 after purchasing an additional 169,454 shares during the period. Institutional investors own 91.83% of the company’s stock.

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Air Lease 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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Analyst Recommendations for Air Lease (NYSE:AL)

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