Barclays Increases Air Lease (NYSE:AL) Price Target to $55.00

Air Lease (NYSE:AL) had its price objective lifted by Barclays from $48.00 to $55.00 in a report published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

AL has been the subject of a number of other research reports. BMO Capital Markets increased their price objective on Air Lease from $54.00 to $55.00 and gave the company an outperform rating in a research note on Tuesday, February 20th. StockNews.com lowered Air Lease from a buy rating to a hold rating in a research note on Friday, March 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Air Lease has a consensus rating of Moderate Buy and an average price target of $53.25.

Air Lease Stock Up 0.1 %

Shares of NYSE AL opened at $48.71 on Tuesday. Air Lease has a one year low of $33.33 and a one year high of $51.77. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.40 and a quick ratio of 0.40. The firm’s 50 day simple moving average is $45.59 and its two-hundred day simple moving average is $41.25. The stock has a market capitalization of $5.42 billion, a P/E ratio of 9.46, a PEG ratio of 0.66 and a beta of 1.65.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.79. The firm had revenue of $716.57 million during the quarter, compared to analyst estimates of $672.95 million. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. As a group, analysts expect that Air Lease will post 5.64 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, March 14th. Air Lease’s dividend payout ratio is currently 16.31%.

Insider Buying and Selling at Air Lease

In other Air Lease news, CEO John L. Plueger sold 19,095 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.27, for a total transaction of $768,955.65. Following the completion of the transaction, the chief executive officer now owns 859,153 shares of the company’s stock, valued at $34,598,091.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Air Lease news, CEO John L. Plueger sold 19,095 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.27, for a total transaction of $768,955.65. Following the completion of the transaction, the chief executive officer now owns 859,153 shares of the company’s stock, valued at $34,598,091.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kishore Korde sold 16,593 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.70, for a total value of $658,742.10. Following the transaction, the executive vice president now directly owns 112,375 shares of the company’s stock, valued at approximately $4,461,287.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,646 shares of company stock valued at $3,705,152. 6.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Air Lease

Institutional investors and hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC bought a new position in shares of Air Lease during the first quarter valued at $28,000. Mather Group LLC. bought a new stake in Air Lease in the 1st quarter worth about $31,000. Neo Ivy Capital Management bought a new stake in Air Lease in the 2nd quarter worth about $31,000. CWM LLC increased its holdings in Air Lease by 296.1% in the 3rd quarter. CWM LLC now owns 911 shares of the transportation company’s stock worth $36,000 after buying an additional 681 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Air Lease in the 3rd quarter worth about $48,000. 94.59% of the stock is currently owned by 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.