Air Lease (NYSE:AL) Price Target Raised to $55.00 at Barclays

Air Lease (NYSE:AL) had its target price increased by Barclays from $48.00 to $55.00 in a report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

AL has been the subject of a number of other research reports. BMO Capital Markets lifted their price objective on shares of Air Lease from $54.00 to $55.00 and gave the company an outperform rating in a research report on Tuesday, February 20th. StockNews.com downgraded shares of Air Lease from a buy rating to a hold rating in a research report on Friday, March 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Lease has a consensus rating of Moderate Buy and an average target price of $53.25.

Air Lease Stock Up 0.5 %

Shares of AL stock opened at $48.46 on Tuesday. The firm’s fifty day moving average price is $45.33 and its two-hundred day moving average price is $41.15. Air Lease has a 1 year low of $33.33 and a 1 year high of $51.77. The firm has a market capitalization of $5.40 billion, a P/E ratio of 9.41, a PEG ratio of 0.66 and a beta of 1.65. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.79. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The company had revenue of $716.57 million during the quarter, compared to the consensus estimate of $672.95 million. During the same quarter last year, the firm posted $1.21 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, equities analysts predict that Air Lease will post 5.64 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, March 14th. Air Lease’s payout ratio is presently 16.31%.

Insider Activity

In other news, EVP Kishore Korde sold 16,593 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $39.70, for a total value of $658,742.10. Following the completion of the transaction, the executive vice president now directly owns 112,375 shares in the company, valued at approximately $4,461,287.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Carol Hyland Forsyte sold 3,046 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the transaction, the executive vice president now directly owns 72,073 shares in the company, valued at approximately $2,884,361.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kishore Korde sold 16,593 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.70, for a total transaction of $658,742.10. Following the transaction, the executive vice president now owns 112,375 shares of the company’s stock, valued at $4,461,287.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,646 shares of company stock worth $3,705,152. 6.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Air Lease

Institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC acquired a new position in Air Lease during the 1st quarter worth approximately $28,000. Mather Group LLC. acquired a new position in Air Lease during the 1st quarter worth approximately $31,000. Neo Ivy Capital Management acquired a new position in Air Lease during the 2nd quarter worth approximately $31,000. CWM LLC increased its position in Air Lease by 296.1% during the 3rd quarter. CWM LLC now owns 911 shares of the transportation company’s stock worth $36,000 after purchasing an additional 681 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Air Lease during the 3rd quarter worth approximately $48,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.