Brokerages Set Air Lease Co. (NYSE:AL) PT at $53.80

Air Lease Co. (NYSE:AL) has earned an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $53.80.

Several equities analysts recently weighed in on AL shares. StockNews.com lowered Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Barclays boosted their target price on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, TD Cowen decreased their target price on shares of Air Lease from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th.

Hedge Funds Weigh In On Air Lease

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock valued at $647,018,000 after buying an additional 2,404,649 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Air Lease by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,834,987 shares of the transportation company’s stock worth $286,660,000 after purchasing an additional 178,632 shares during the period. Wellington Management Group LLP increased its stake in shares of Air Lease by 44.3% during the fourth quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock worth $192,260,000 after purchasing an additional 1,407,902 shares during the period. Lyrical Asset Management LP increased its stake in Air Lease by 0.6% during the 4th quarter. Lyrical Asset Management LP now owns 2,169,309 shares of the transportation company’s stock worth $90,981,000 after acquiring an additional 12,735 shares during the period. Finally, Earnest Partners LLC boosted its holdings in shares of Air Lease by 19.4% in the 1st quarter. Earnest Partners LLC now owns 2,113,615 shares of the transportation company’s stock valued at $108,724,000 after purchasing an additional 343,360 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Stock Performance

NYSE:AL opened at $47.52 on Wednesday. The firm has a market capitalization of $5.29 billion, a PE ratio of 9.58, a P/E/G ratio of 0.90 and a beta of 1.62. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a 50-day simple moving average of $48.28 and a two-hundred day simple moving average of $45.25. Air Lease has a 52-week low of $33.33 and a 52-week high of $52.31.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). The company had revenue of $663.31 million for the quarter, compared to analysts’ expectations of $677.26 million. Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. Analysts forecast that Air Lease will post 6.96 EPS for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Tuesday, June 4th will be given a $0.21 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 1.77%. Air Lease’s dividend payout ratio is 16.94%.

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.