The Goldman Sachs Group Reaffirms Buy Rating for Air Lease (NYSE:AL)

The Goldman Sachs Group reiterated their buy rating on shares of Air Lease (NYSE:AL) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a $65.00 target price on the transportation company’s stock.

Several other research analysts have also recently issued reports on the company. Barclays dropped their price objective 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. JPMorgan Chase & Co. raised their price target on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, TD Cowen began coverage on shares of Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Air Lease Price Performance

AL opened at $50.64 on Thursday. The business has a fifty day moving average of $45.48 and a 200 day moving average of $46.10. The stock has a market cap of $5.64 billion, a P/E ratio of 11.54, a PEG ratio of 1.54 and a beta of 1.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. Air Lease has a 52-week low of $37.65 and a 52-week high of $52.31.

Air Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a $0.22 dividend. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s dividend payout ratio (DPR) is presently 19.13%.

Institutional Trading of Air Lease

Several large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. raised its holdings in shares of Air Lease by 0.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock worth $2,429,000 after purchasing an additional 314 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Air Lease by 12.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock valued at $157,000 after buying an additional 389 shares during the last quarter. CWM LLC lifted its holdings in shares of Air Lease by 16.5% in the 2nd quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after buying an additional 440 shares during the period. Hilltop National Bank boosted its stake in shares of Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after buying an additional 448 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in Air Lease by 11.9% during the third quarter. Orion Portfolio Solutions LLC now owns 4,819 shares of the transportation company’s stock worth $218,000 after acquiring an additional 511 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

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.