Analysts Set Air Lease Co. (NYSE:AL) PT at $57.60

Shares of Air Lease Co. (NYSE:AL) have earned a consensus recommendation of “Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $57.60.

A number of equities analysts recently commented on AL shares. JPMorgan Chase & Co. lifted their price target on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st.

Hedge Funds Weigh In On Air Lease

A number of hedge funds have recently modified their holdings of the stock. State Street Corp grew its stake in Air Lease by 0.8% during the 3rd quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock valued at $155,180,000 after acquiring an additional 25,874 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Air Lease by 2.5% during the third quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after buying an additional 70,299 shares during the last quarter. American Century Companies Inc. raised its stake 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 valued at $115,673,000 after purchasing an additional 115,293 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Air Lease by 7.4% in the second quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock valued at $107,859,000 after buying an additional 155,665 shares during the period. Finally, Copeland Capital Management LLC lifted its position in shares of Air Lease by 0.7% in the 3rd quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock worth $82,926,000 after acquiring an additional 12,441 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Down 4.6 %

Shares of Air Lease stock opened at $45.08 on Friday. Air Lease has a 1-year low of $39.15 and a 1-year high of $52.31. The company has a market capitalization of $5.02 billion, a PE ratio of 10.27, a P/E/G ratio of 1.55 and a beta of 1.61. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50-day moving average of $48.81 and a 200-day moving average of $46.52.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.95%. Air Lease’s payout ratio is 20.05%.

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.