Air Lease Corp. (AL) Given Average Rating of “Buy” by Analysts

Shares of Air Lease Corp. (NYSE:AL) have been assigned an average rating of “Buy” from the ten research firms that are covering the company. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $48.25.

AL has been the subject of a number of recent research reports. FBR & Co reissued a “buy” rating and set a $35.00 price objective on shares of Air Lease Corp. in a research report on Monday, September 19th. Zacks Investment Research downgraded shares of Air Lease Corp. from a “hold” rating to a “sell” rating in a research report on Monday, October 10th. Stephens initiated coverage on shares of Air Lease Corp. in a research report on Tuesday, November 1st. They set an “overweight” rating and a $48.00 price objective for the company. Finally, TheStreet raised shares of Air Lease Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, November 29th.

In other Air Lease Corp. news, Director Robert A. Milton sold 30,000 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $31.73, for a total transaction of $951,900.00. Following the completion of the transaction, the director now owns 30,889 shares of the company’s stock, valued at approximately $980,107.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marc H. Baer sold 3,140 shares of the stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $35.48, for a total transaction of $111,407.20. Following the transaction, the executive vice president now directly owns 131,566 shares of the company’s stock, valued at approximately $4,667,961.68. The disclosure for this sale can be found here. Company insiders own 9.45% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC bought a new position in Air Lease Corp. during the second quarter valued at approximately $102,000. Tower Research Capital LLC TRC increased its position in Air Lease Corp. by 761.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,188 shares of the company’s stock valued at $112,000 after buying an additional 3,702 shares during the period. Advisor Group Inc. increased its position in Air Lease Corp. by 179.2% in the third quarter. Advisor Group Inc. now owns 4,196 shares of the company’s stock valued at $120,000 after buying an additional 2,693 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Air Lease Corp. by 55.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,025 shares of the company’s stock valued at $135,000 after buying an additional 1,786 shares during the period. Finally, Glenmede Trust Co. NA bought a new position in Air Lease Corp. during the second quarter valued at approximately $137,000. 90.23% of the stock is owned by institutional investors and hedge funds.

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Air Lease Corp. (NYSE:AL) traded down 0.11% during midday trading on Wednesday, reaching $35.90. The company’s stock had a trading volume of 240,242 shares. Air Lease Corp. has a one year low of $22.47 and a one year high of $37.24. The firm has a market cap of $3.69 billion, a P/E ratio of 10.90 and a beta of 1.61. The firm has a 50 day moving average price of $33.94 and a 200 day moving average price of $29.77.

Air Lease Corp. (NYSE:AL) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Air Lease Corp. had a net margin of 26.09% and a return on equity of 14.83%. The firm earned $355.10 million during the quarter, compared to the consensus estimate of $356.47 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts forecast that Air Lease Corp. will post $3.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 9th. Shareholders of record on Monday, December 12th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, December 8th. This is an increase from Air Lease Corp.’s previous quarterly dividend of $0.05. Air Lease Corp.’s dividend payout ratio is 9.12%.

Air Lease Corp. 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.