Air Lease (NYSE:AL) Price Target Raised to $55.00

Air Lease (NYSE:AL) had its price target raised by stock analysts at Barclays from $48.00 to $55.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price points to a potential upside of 14.06% from the company’s previous close.

Several other brokerages also recently issued reports on AL. BMO Capital Markets raised their price target on Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. StockNews.com downgraded Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.25.

Air Lease Stock Down 0.7 %

Shares of Air Lease stock opened at $48.22 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68. The business’s 50 day simple moving average is $45.22 and its 200-day simple moving average is $41.09. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.66 and a beta of 1.65. Air Lease has a twelve month low of $33.33 and a twelve month high of $51.77.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.79. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The business had revenue of $716.57 million during the quarter, compared to analyst estimates of $672.95 million. During the same period in the prior year, the company posted $1.21 EPS. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. Equities research analysts forecast that Air Lease will post 5.64 earnings per share for the current year.

Insider Activity at Air Lease

In other news, CEO John L. Plueger sold 19,095 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.27, for a total transaction of $768,955.65. Following the completion of the transaction, the chief executive officer now owns 859,153 shares of the company’s stock, valued at $34,598,091.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Air Lease news, EVP Kishore Korde sold 16,593 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $39.70, for a total value of $658,742.10. Following the completion of the sale, the executive vice president now directly owns 112,375 shares of the company’s stock, valued at approximately $4,461,287.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John L. Plueger sold 19,095 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.27, for a total transaction of $768,955.65. Following the completion of the transaction, the chief executive officer now owns 859,153 shares in the company, valued at $34,598,091.31. The disclosure for this sale can be found here. Insiders sold a total of 89,646 shares of company stock valued at $3,705,152 in the last quarter. Insiders own 6.64% of the company’s stock.

Institutional Trading of Air Lease

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of Air Lease by 141.3% in the 1st quarter. Invesco Ltd. now owns 3,714,362 shares of the transportation company’s stock worth $165,846,000 after buying an additional 2,175,100 shares during the last quarter. Wellington Management Group LLP boosted its position in Air Lease by 36.7% during the 1st quarter. Wellington Management Group LLP now owns 5,446,382 shares of the transportation company’s stock valued at $243,180,000 after buying an additional 1,460,769 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Air Lease in the 1st quarter worth about $58,077,000. Penn Capital Management Company LLC purchased a new stake in shares of Air Lease in the 1st quarter worth about $46,494,000. Finally, Norges Bank purchased a new stake in shares of Air Lease in the 4th quarter worth about $41,846,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.