Zacks Investment Research cut shares of Air Lease Corporation (NYSE:AL) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

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. “

A number of other equities analysts have also recently issued reports on the stock. Royal Bank Of Canada reiterated a buy rating and issued a $80.00 price target on shares of Air Lease Corporation in a research note on Thursday, November 2nd. Bank of America Corporation set a $47.00 price target on shares of Air Lease Corporation and gave the stock a hold rating in a research note on Thursday, October 19th. BidaskClub cut shares of Air Lease Corporation from a buy rating to a hold rating in a research note on Friday, August 11th. Finally, Cowen and Company upped their price target on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an outperform rating in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Air Lease Corporation currently has a consensus rating of Buy and a consensus price target of C$48.78.

Shares of Air Lease Corporation (AL) traded up C$0.84 during trading on Thursday, reaching C$43.23. 773,602 shares of the company were exchanged, compared to its average volume of 652,355. The company has a market cap of $4,463.06, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.31 and a beta of 1.83. Air Lease Corporation has a 52 week low of C$32.82 and a 52 week high of C$45.15. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 2.61.

Air Lease Corporation (NYSE:AL) last announced its quarterly earnings results on Thursday, November 9th. The company reported C$0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.87 by C$0.03. The company had revenue of C$376.77 million for the quarter, compared to analysts’ expectations of C$374.61 million. Air Lease Corporation had a net margin of 25.67% and a return on equity of 11.02%. Air Lease Corporation’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. research analysts anticipate that Air Lease Corporation will post 3.41 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be given a $0.10 dividend. This is a positive change from Air Lease Corporation’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.93%. Air Lease Corporation’s payout ratio is 8.60%.

In other news, EVP Marc H. Baer sold 7,562 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of C$39.72, for a total transaction of C$300,362.64. Following the completion of the sale, the executive vice president now owns 132,001 shares of the company’s stock, valued at approximately C$5,243,079.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jie Chen sold 4,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of C$43.00, for a total transaction of C$172,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 24,562 shares of company stock valued at $1,000,003. 9.76% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners increased its position in shares of Air Lease Corporation by 2.0% during the 3rd quarter. Boston Partners now owns 8,664,181 shares of the company’s stock valued at $369,267,000 after purchasing an additional 169,454 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Air Lease Corporation by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,550,212 shares of the company’s stock valued at $282,076,000 after purchasing an additional 95,981 shares during the last quarter. Capital Research Global Investors increased its position in shares of Air Lease Corporation by 3.3% during the 2nd quarter. Capital Research Global Investors now owns 4,208,000 shares of the company’s stock valued at $157,211,000 after purchasing an additional 136,000 shares during the last quarter. BlackRock Inc. increased its position in shares of Air Lease Corporation by 14,924.1% during the 1st quarter. BlackRock Inc. now owns 3,851,727 shares of the company’s stock valued at $149,254,000 after purchasing an additional 3,826,090 shares during the last quarter. Finally, State Street Corp increased its position in shares of Air Lease Corporation by 1.5% during the 2nd quarter. State Street Corp now owns 1,349,037 shares of the company’s stock valued at $50,398,000 after purchasing an additional 19,548 shares during the last quarter. 92.20% of the stock is owned by hedge funds and other 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.

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Analyst Recommendations for Air Lease Corporation (NYSE:AL)

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