Air Lease Co. (NYSE:AL) Given Consensus Rating of “Buy” by Brokerages

Air Lease Co. (NYSE:AL) has received an average rating of “Buy” from the five analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $57.60.

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. TD Cowen started coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price for the company. Finally, Barclays cut 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.

Air Lease Stock Up 3.0 %

Shares of NYSE AL opened at $52.16 on Thursday. Air Lease has a 52-week low of $37.65 and a 52-week high of $52.31. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. The business has a fifty day moving average of $45.48 and a two-hundred day moving average of $46.10. The stock has a market cap of $5.81 billion, a PE ratio of 11.88, a PEG ratio of 1.57 and a beta of 1.59.

Air Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.22 per share. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, December 12th. Air Lease’s dividend payout ratio (DPR) is 20.05%.

Hedge Funds Weigh In On Air Lease

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Air Lease by 23.6% during the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after acquiring an additional 2,404,649 shares in the last quarter. State Street Corp grew its position in Air Lease by 0.8% in the third quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock valued at $155,180,000 after purchasing an additional 25,874 shares in the last quarter. Royce & Associates LP increased its stake in Air Lease by 2.5% in the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock valued at $130,232,000 after buying an additional 70,299 shares during the last quarter. American Century Companies Inc. lifted its position in Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock worth $115,673,000 after buying an additional 115,293 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Air Lease by 7.4% during the 2nd quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after buying an additional 155,665 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Company Profile

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.