Air Lease Corporation (AL) Price Target Increased to $47.00 by Analysts at Bank of America Corporation
Air Lease Corporation (NYSE:AL) had its target price lifted by Bank of America Corporation from $44.00 to $47.00 in a research report issued to clients and investors on Thursday. The firm presently has a “neutral” rating on the transportation company’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 8.22% from the stock’s current price.
A number of other equities research analysts have also weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Air Lease Corporation from $79.00 to $80.00 and gave the company a “top pick” rating in a report on Friday, September 29th. BidaskClub lowered shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Cowen and Company raised their price objective on shares of Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Barclays PLC assumed coverage on shares of Air Lease Corporation in a report on Monday, July 10th. They issued an “overweight” rating and a $48.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $50.13.
Air Lease Corporation (AL) traded down 1.407% during trading on Thursday, reaching $42.819. 474,572 shares of the company’s stock traded hands. Air Lease Corporation has a 12-month low of $29.26 and a 12-month high of $44.59. The company has a market cap of $4.42 billion, a PE ratio of 12.469 and a beta of 1.79. The company has a 50 day moving average price of $41.63 and a 200-day moving average price of $39.09.
Air Lease Corporation (NYSE:AL) last announced its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.08. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The business had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. During the same period last year, the business earned $1.39 EPS. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Air Lease Corporation will post $3.46 EPS for the current fiscal year.
In related news, EVP Alex A. Khatibi sold 11,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $40.00, for a total value of $440,000.00. Following the transaction, the executive vice president now directly owns 142,786 shares of the company’s stock, valued at approximately $5,711,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jie Chen sold 10,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $43.00, for a total transaction of $430,000.00. The disclosure for this sale can be found here. Insiders sold a total of 32,562 shares of company stock worth $1,342,363 over the last ninety days. Insiders own 9.76% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Israel Discount Bank of New York grew its position in Air Lease Corporation by 7.7% during the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock worth $104,000 after purchasing an additional 200 shares during the last quarter. Fiduciary Trust Co. purchased a new position in Air Lease Corporation during the 2nd quarter worth $111,000. QS Investors LLC grew its position in Air Lease Corporation by 0.6% during the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after purchasing an additional 21 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Air Lease Corporation by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after purchasing an additional 331 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Air Lease Corporation by 14.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock worth $183,000 after purchasing an additional 621 shares during the last quarter. 92.16% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Air Lease Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease Corporation and related companies with MarketBeat.com's FREE daily email newsletter.