AerSale (NASDAQ:ASLE) Price Target Cut to $8.00 by Analysts at Truist Financial

AerSale (NASDAQ:ASLE) had its target price cut by Truist Financial from $10.00 to $8.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada lowered their target price on AerSale from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Stifel Nicolaus lowered their target price on AerSale from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 9th.

AerSale Stock Performance

Shares of NASDAQ ASLE opened at $5.33 on Friday. The firm has a market capitalization of $282.54 million, a price-to-earnings ratio of -533.00 and a beta of 0.23. The stock has a 50 day moving average price of $5.05 and a 200 day moving average price of $6.29. AerSale has a 52-week low of $4.53 and a 52-week high of $16.69.

AerSale (NASDAQ:ASLE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.15). The firm had revenue of $77.10 million during the quarter, compared to analysts’ expectations of $87.66 million. AerSale had a negative net margin of 0.07% and a negative return on equity of 0.95%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. Analysts forecast that AerSale will post 0.21 earnings per share for the current year.

Insider Transactions at AerSale

In other AerSale news, insider Nicolas Finazzo purchased 20,000 shares of AerSale stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $5.36 per share, with a total value of $107,200.00. Following the completion of the transaction, the insider now owns 37,000 shares in the company, valued at approximately $198,320. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 37.30% of the company’s stock.

Hedge Funds Weigh In On AerSale

A number of large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in shares of AerSale by 38.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,684 shares of the company’s stock valued at $212,000 after acquiring an additional 4,650 shares during the period. Bourgeon Capital Management LLC increased its position in shares of AerSale by 83.9% in the 1st quarter. Bourgeon Capital Management LLC now owns 292,291 shares of the company’s stock valued at $2,099,000 after acquiring an additional 133,315 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of AerSale in the 1st quarter valued at $399,000. GSA Capital Partners LLP acquired a new position in shares of AerSale in the 1st quarter valued at $856,000. Finally, Swiss National Bank increased its position in shares of AerSale by 13.6% in the 1st quarter. Swiss National Bank now owns 57,500 shares of the company’s stock valued at $413,000 after acquiring an additional 6,900 shares during the period. 69.48% of the stock is owned by institutional investors and hedge funds.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).