Barclays Downgrades Air Lease (NYSE:AL) to Equal Weight

Air Lease (NYSE:AL) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. They currently have a $65.00 price objective on the transportation company’s stock. Barclays‘s target price indicates a potential upside of 1.27% from the company’s current price.

A number of other research analysts have also recently commented on AL. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Zacks Research downgraded Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Air Lease has an average rating of “Hold” and a consensus target price of $59.17.

Air Lease Trading Up 0.0%

AL opened at $64.19 on Tuesday. The company’s 50 day moving average is $63.98 and its 200-day moving average is $61.69. Air Lease has a 1-year low of $38.25 and a 1-year high of $64.40. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. The company has a market cap of $7.17 billion, a P/E ratio of 7.44, a PEG ratio of 0.56 and a beta of 1.15.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. The business had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. Equities research analysts predict that Air Lease will post 5.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Air Lease news, Director Steven F. Udvar-Hazy sold 64,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $64.02, for a total transaction of $4,097,280.00. Following the completion of the sale, the director owned 74,000 shares of the company’s stock, valued at approximately $4,737,480. This represents a 46.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John L. Plueger sold 155,821 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total transaction of $9,977,218.63. Following the completion of the transaction, the chief executive officer owned 725,941 shares in the company, valued at $46,482,002.23. This trade represents a 17.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 760,593 shares of company stock valued at $48,668,588 over the last three months. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Air Lease

Large investors have recently modified their holdings of the company. Archer Investment Corp lifted its holdings in Air Lease by 5.1% in the third quarter. Archer Investment Corp now owns 3,415 shares of the transportation company’s stock valued at $217,000 after buying an additional 165 shares during the period. Sage Rhino Capital LLC raised its position in shares of Air Lease by 4.8% in the 3rd quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company’s stock worth $253,000 after acquiring an additional 181 shares in the last quarter. Eastern Bank lifted its stake in shares of Air Lease by 33.2% in the 3rd quarter. Eastern Bank now owns 799 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 199 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Air Lease by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,994 shares of the transportation company’s stock valued at $2,227,000 after purchasing an additional 201 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Air Lease by 1.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,153 shares of the transportation company’s stock valued at $710,000 after purchasing an additional 205 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.