AerSale Corporation (NASDAQ:ASLE) Stock Has Consensus Price Target of $6.83 According to Analysts

AerSale Corporation (NASDAQ:ASLE) has earned a consensus rating of “Reduce” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $6.83.

A number of research firms have recently weighed in on ASLE. Royal Bank Of Canada cut their price target on AerSale from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Monday, August 10th. Zacks Research lowered AerSale from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 27th. B. Riley Financial initiated coverage on AerSale in a research report on Monday, June 29th. They set a “neutral” rating and a $7.50 price objective for the company. Weiss Ratings reissued a “sell (d)” rating on shares of AerSale in a research note on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of AerSale from a “hold” rating to a “sell” rating in a report on Saturday, August 15th.

AerSale Stock Up 3.3%

Shares of NASDAQ ASLE opened at $5.08 on Wednesday. The firm’s 50-day moving average is $5.56 and its two-hundred day moving average is $6.12. The company has a market capitalization of $242.47 million, a PE ratio of -63.50 and a beta of 0.37. AerSale has a 12-month low of $4.71 and a 12-month high of $8.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.27 and a quick ratio of 0.76.

AerSale (NASDAQ:ASLE) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The business had revenue of $70.93 million for the quarter, compared to analysts’ expectations of $81.24 million. AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%. Equities analysts anticipate that AerSale will post 0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On AerSale

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of AerSale during the second quarter worth $17,358,000. M3F Inc. increased its stake in AerSale by 20.0% in the first quarter. M3F Inc. now owns 3,983,632 shares of the company’s stock valued at $24,778,000 after purchasing an additional 664,487 shares during the last quarter. Raffles Associates LP purchased a new position in AerSale during the second quarter worth about $2,907,000. Bank of New York Mellon Corp purchased a new position in AerSale during the second quarter worth about $970,000. Finally, GSA Capital Partners LLP acquired a new stake in AerSale in the 2nd quarter worth about $792,000. Institutional investors and hedge funds own 69.48% of the company’s stock.

About AerSale

AerSale Corporation is an aviation aftermarket company that provides aircraft, engine and component services to commercial airlines, lessors, government agencies and other aviation operators. The company sources and sells used serviceable material, aircraft and engines, while also providing maintenance, repair and overhaul services for airframes, engines and components.

AerSale’s business includes the sale and lease of whole aircraft and engines, aircraft disassembly and parts distribution, and technical support services.