Credit Suisse Group Increases Air Lease Corporation (AL) Price Target to $46.00
Air Lease Corporation (NYSE:AL) had its price objective hoisted by equities researchers at Credit Suisse Group from $44.00 to $46.00 in a research note issued on Friday. The firm presently has an “outperform” rating on the stock.
A number of other equities research analysts have also recently weighed in on AL. UBS AG lifted their price target on Air Lease Corporation from $30.00 to $31.00 and gave the company a “sell” rating in a report on Friday. Bank of America Corporation cut Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Wednesday, August 9th. BidaskClub cut Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research raised Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Cowen and Company lifted their price target on Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$48.78.
Air Lease Corporation (AL) opened at C$43.23 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.61. Air Lease Corporation has a twelve month low of C$32.82 and a twelve month high of C$45.15. The stock 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 (NYSE:AL) last issued its 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. Air Lease Corporation had a net margin of 25.67% and a return on equity of 11.02%. The firm had revenue of C$376.77 million for the quarter, compared to analysts’ expectations of C$374.61 million. During the same quarter last year, the company posted $1.43 earnings per share. Air Lease Corporation’s revenue was up 6.1% on a year-over-year basis. equities analysts expect that Air Lease Corporation will post 3.41 EPS for the current fiscal year.
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In related news, Director Jie Chen sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of C$43.82, for a total transaction of C$87,640.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alex A. Khatibi sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of C$40.00, for a total transaction of C$440,000.00. Following the transaction, the executive vice president now owns 142,786 shares in the company, valued at approximately C$5,711,440. The disclosure for this sale can be found here. Insiders have sold 24,562 shares of company stock worth $1,000,003 in the last quarter. Company insiders own 9.76% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners increased its stake in shares of Air Lease Corporation by 2.0% during the third quarter. Boston Partners now owns 8,664,181 shares of the company’s stock valued at $369,267,000 after acquiring an additional 169,454 shares during the period. Vanguard Group Inc. increased its stake in shares of Air Lease Corporation by 1.3% during the second quarter. Vanguard Group Inc. now owns 7,550,212 shares of the company’s stock valued at $282,076,000 after acquiring an additional 95,981 shares during the period. Capital Research Global Investors increased its stake in shares of Air Lease Corporation by 3.3% during the second quarter. Capital Research Global Investors now owns 4,208,000 shares of the company’s stock valued at $157,211,000 after acquiring an additional 136,000 shares during the period. BlackRock Inc. increased its stake in shares of Air Lease Corporation by 14,924.1% during the first quarter. BlackRock Inc. now owns 3,851,727 shares of the company’s stock valued at $149,254,000 after acquiring an additional 3,826,090 shares during the period. Finally, State Street Corp increased its stake in shares of Air Lease Corporation by 1.5% during the second quarter. State Street Corp now owns 1,349,037 shares of the company’s stock valued at $50,398,000 after acquiring an additional 19,548 shares during the period. Institutional investors and hedge funds own 92.20% of the company’s stock.
Air Lease Corporation 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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