AerSale (NASDAQ:ASLE) Price Target Cut to $5.50 by Analysts at B. Riley Financial

AerSale (NASDAQ:ASLE) had its price target reduced by equities research analysts at B. Riley Financial from $6.00 to $5.50 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley Financial‘s price target would indicate a potential upside of 18.56% from the company’s previous close.

Several other research firms have also issued reports on ASLE. Royal Bank Of Canada lowered their target price on shares of AerSale from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Monday, August 10th. Wall Street Zen lowered AerSale from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Zacks Research upgraded AerSale from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AerSale in a report on Wednesday, August 12th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AerSale presently has a consensus rating of “Reduce” and an average target price of $6.17.

AerSale Stock Performance

ASLE opened at $4.64 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.27 and a quick ratio of 0.76. The firm has a fifty day moving average price of $5.11 and a 200 day moving average price of $6.20. AerSale has a 1 year low of $4.53 and a 1 year high of $7.93. The stock has a market cap of $221.41 million, a P/E ratio of -11.90 and a beta of 0.23.

AerSale (NASDAQ:ASLE) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.13). The firm had revenue of $91.56 million for the quarter, compared to analyst estimates of $91.22 million. AerSale had a negative net margin of 5.76% and a negative return on equity of 0.72%. Equities research analysts anticipate that AerSale will post 0.03 earnings per share for the current year.

Institutional Investors Weigh In On AerSale

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASLE. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of AerSale by 39.0% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock worth $55,000 after buying an additional 2,477 shares in the last quarter. Bank of America Corp DE raised its position in shares of AerSale by 15.6% in the first quarter. Bank of America Corp DE now owns 33,712 shares of the company’s stock valued at $210,000 after buying an additional 4,545 shares during the last quarter. State of Wyoming raised its position in shares of AerSale by 102.5% in the first quarter. State of Wyoming now owns 18,207 shares of the company’s stock valued at $113,000 after buying an additional 9,218 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of AerSale in the second quarter worth about $65,000. Finally, Squarepoint Ops LLC lifted its stake in shares of AerSale by 9.9% in the second quarter. Squarepoint Ops LLC now owns 148,674 shares of the company’s stock worth $940,000 after buying an additional 13,417 shares in the last quarter. Institutional investors and hedge funds own 69.48% of the company’s stock.

About AerSale

AerSale Corporation (NASDAQ:ASLE) is an aviation aftermarket company that provides products and services to commercial airlines, aircraft leasing companies, original equipment manufacturers, government agencies and other aviation customers. The company focuses primarily on commercial aircraft and engines, including aircraft sales and leasing support, component sourcing, and related asset management services.

AerSale also operates maintenance, repair and overhaul capabilities for aircraft, engines and components.