Air Lease Co. (NYSE:AL) Receives $58.50 Average PT from Analysts

Air Lease Co. (NYSE:AL) has received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $55.67.

AL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. UBS Group set a $50.00 target price on Air Lease in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. Finally, Bank of America downgraded Air Lease from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $72.00 to $50.00 in a report on Friday, March 7th.

Institutional Trading of Air Lease

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Air Lease by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company’s stock worth $259,574,000 after purchasing an additional 362,585 shares in the last quarter. State Street Corp boosted its position in shares of Air Lease by 0.8% in the 3rd quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock worth $155,180,000 after purchasing an additional 25,874 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Air Lease by 13.7% in the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company’s stock worth $155,570,000 after purchasing an additional 389,070 shares in the last quarter. Royce & Associates LP boosted its position in shares of Air Lease by 2.5% in the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after purchasing an additional 70,299 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Air Lease by 43.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock worth $134,332,000 after purchasing an additional 842,780 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Stock Up 0.9 %

Shares of NYSE:AL opened at $43.75 on Friday. Air Lease has a 1 year low of $39.43 and a 1 year high of $52.31. The company has a market cap of $4.87 billion, a PE ratio of 13.14, a P/E/G ratio of 1.33 and a beta of 1.60. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s 50-day moving average is $46.95 and its 200 day moving average is $46.64.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. Sell-side analysts anticipate that Air Lease will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be given a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.01%. Air Lease’s dividend payout ratio is currently 26.43%.

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.