Air Lease Corp (NYSE:AL) was the target of some unusual options trading on Tuesday. Stock traders bought 491 put options on the company. This represents an increase of approximately 667% compared to the average daily volume of 64 put options.
Shares of Air Lease (NYSE:AL) opened at $43.92 on Wednesday. Air Lease has a fifty-two week low of $34.42 and a fifty-two week high of $50.70. The stock has a market capitalization of $4,538.63, a PE ratio of 6.44, a price-to-earnings-growth ratio of 0.67 and a beta of 1.74. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.35.
Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, February 22nd. The transportation company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.19. Air Lease had a return on equity of 10.91% and a net margin of 49.87%. The company had revenue of $398.47 million during the quarter, compared to the consensus estimate of $380.93 million. During the same period in the prior year, the company earned $1.48 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. sell-side analysts predict that Air Lease will post 4.63 EPS for the current fiscal year.
In related news, insider Steven F. Udvar-Hazy sold 24,564 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $44.25, for a total value of $1,086,957.00. Following the completion of the sale, the insider now owns 952,376 shares in the company, valued at $42,142,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kishore Korde sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $49.16, for a total value of $98,320.00. Following the completion of the sale, the executive vice president now owns 78,976 shares of the company’s stock, valued at approximately $3,882,460.16. The disclosure for this sale can be found here. Insiders sold 50,714 shares of company stock valued at $2,279,605 in the last quarter. 9.76% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of AL. Two Sigma Investments LP grew its holdings in shares of Air Lease by 196.4% during the fourth quarter. Two Sigma Investments LP now owns 278,917 shares of the transportation company’s stock worth $13,413,000 after buying an additional 184,821 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Air Lease by 3.1% during the third quarter. Bamco Inc. NY now owns 2,369,082 shares of the transportation company’s stock worth $100,970,000 after buying an additional 70,200 shares in the last quarter. FSI Group LLC bought a new position in shares of Air Lease during the fourth quarter worth about $2,212,000. Concourse Capital Management LLC bought a new position in shares of Air Lease during the third quarter worth about $1,886,000. Finally, Aurora Investment Counsel bought a new position in shares of Air Lease during the fourth quarter worth about $2,020,000. Institutional investors and hedge funds own 90.32% of the company’s stock.
AL has been the subject of a number of recent analyst reports. Credit Suisse Group reiterated an “outperform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Air Lease in a report on Friday, February 23rd. Citigroup started coverage on Air Lease in a report on Friday, December 8th. They issued a “neutral” rating and a $46.00 price objective for the company. ValuEngine downgraded Air Lease from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Air Lease from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, January 9th. Finally, Bank of America upgraded Air Lease from a “neutral” rating to a “buy” rating and set a $56.00 price target for the company in a report on Friday, March 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Air Lease currently has a consensus rating of “Buy” and a consensus target price of $52.05.
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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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