Air Lease (NYSE:AL) Given New $56.00 Price Target at JPMorgan Chase & Co.

Air Lease (NYSE:AL) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $52.00 to $56.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 13.48% from the company’s previous close.

AL has been the topic of a number of other research reports. Barclays reduced their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. TD Cowen began coverage on Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

Air Lease Price Performance

Shares of NYSE:AL opened at $49.35 on Tuesday. Air Lease has a one year low of $37.29 and a one year high of $52.31. The stock has a market cap of $5.50 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59. The business’s fifty day moving average price is $44.62 and its two-hundred day moving average price is $46.20. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Air Lease by 12.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after buying an additional 389 shares during the period. The Manufacturers Life Insurance Company raised its position in Air Lease by 6.0% in the third quarter. The Manufacturers Life Insurance Company now owns 24,665 shares of the transportation company’s stock valued at $1,117,000 after purchasing an additional 1,390 shares during the period. Bank of Montreal Can raised its position in Air Lease by 1.4% in the third quarter. Bank of Montreal Can now owns 70,984 shares of the transportation company’s stock valued at $3,250,000 after purchasing an additional 966 shares during the period. Loomis Sayles & Co. L P purchased a new position in Air Lease in the third quarter valued at about $18,289,000. Finally, Raymond James Trust N.A. raised its position in Air Lease by 26.3% in the third quarter. Raymond James Trust N.A. now owns 36,274 shares of the transportation company’s stock valued at $1,643,000 after purchasing an additional 7,563 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

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.