Air Lease (AL) Stock Rating Lowered by ValuEngine
Air Lease (NYSE:AL) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
AL has been the topic of a number of other reports. Cowen raised their price objective on Air Lease from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Zacks Investment Research raised Air Lease from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Royal Bank Of Canada raised their price objective on Air Lease from $79.00 to $80.00 and gave the company a “top pick” rating in a report on Friday, September 29th. BidaskClub cut Air Lease from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Bank of America set a $47.00 price objective on Air Lease and gave the company a “hold” rating in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $48.78.
Shares of Air Lease (AL) traded up $0.39 on Friday, hitting $43.69. The stock had a trading volume of 784,905 shares, compared to its average volume of 590,944. The company has a market cap of $4,510.56, a P/E ratio of 12.52, a PEG ratio of 1.32 and a beta of 1.82. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.53. Air Lease has a 12-month low of $34.21 and a 12-month high of $45.15.
Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.03. The firm had revenue of $376.77 million during the quarter, compared to the consensus estimate of $374.61 million. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.43 EPS. equities research analysts expect that Air Lease will post 3.44 EPS for the current year.
In other Air Lease news, Director Jie Chen sold 2,000 shares of Air Lease stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $43.82, for a total value of $87,640.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex A. Khatibi sold 11,000 shares of Air Lease stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $40.00, for a total value of $440,000.00. Following the completion of the transaction, the executive vice president now directly owns 142,786 shares in the company, valued at $5,711,440. The disclosure for this sale can be found here. Insiders sold a total of 321,000 shares of company stock worth $13,269,840 over the last ninety days. Insiders own 9.76% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AL. Israel Discount Bank of New York increased its stake in Air Lease by 7.7% in 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 period. Fiduciary Trust Co. bought a new stake in shares of Air Lease in the 2nd quarter worth approximately $111,000. Zions Bancorporation bought a new stake in shares of Air Lease in the 3rd quarter worth approximately $114,000. QS Investors LLC grew its position in shares of Air Lease by 0.6% in the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after buying an additional 21 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Air Lease by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after buying an additional 331 shares during the last quarter. 91.87% of the stock is currently owned by institutional investors and hedge funds.
Air Lease 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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