TD Cowen Cuts Air Lease (NYSE:AL) Price Target to $56.00

Air Lease (NYSE:AL) had its price target decreased by TD Cowen from $59.00 to $56.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective points to a potential upside of 14.33% from the company’s current price.

Several other research firms also recently commented on AL. BMO Capital Markets increased their price objective on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. StockNews.com downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Finally, Barclays increased their price objective on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.80.

Air Lease Stock Up 2.5 %

AL opened at $48.98 on Tuesday. The firm has a 50-day simple moving average of $48.28 and a two-hundred day simple moving average of $42.66. Air Lease has a 52 week low of $33.33 and a 52 week high of $52.31. The company has a market capitalization of $5.45 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.54). Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The company had revenue of $663.31 million for the quarter, compared to the consensus estimate of $677.26 million. During the same period last year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts forecast that Air Lease will post 6.22 earnings per share for the current fiscal year.

Insider Activity at Air Lease

In related news, CEO John L. Plueger sold 19,095 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.27, for a total value of $768,955.65. Following the sale, the chief executive officer now directly owns 859,153 shares of the company’s stock, valued at approximately $34,598,091.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Alex A. Khatibi sold 11,199 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.37, for a total value of $530,496.63. Following the sale, the executive vice president now directly owns 76,300 shares of the company’s stock, valued at approximately $3,614,331. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John L. Plueger sold 19,095 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.27, for a total transaction of $768,955.65. Following the completion of the sale, the chief executive officer now directly owns 859,153 shares in the company, valued at $34,598,091.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,646 shares of company stock valued at $3,705,152. Insiders own 6.64% of the company’s stock.

Hedge Funds Weigh In On Air Lease

A number of institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP increased its position in shares of Air Lease by 1.2% during the first quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock worth $966,000 after acquiring an additional 217 shares during the period. Janney Capital Management LLC increased its holdings in Air Lease by 2.8% during the third quarter. Janney Capital Management LLC now owns 10,343 shares of the transportation company’s stock valued at $408,000 after buying an additional 281 shares during the period. J.P. Morgan Private Wealth Advisors LLC increased its holdings in Air Lease by 0.6% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 50,266 shares of the transportation company’s stock valued at $1,981,000 after buying an additional 290 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Air Lease by 1.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock valued at $1,119,000 after buying an additional 291 shares during the period. Finally, Neo Ivy Capital Management increased its holdings in Air Lease by 32.4% during the fourth quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after buying an additional 330 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

About Air Lease

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.