Analysts Set Air Lease Corporation (NYSE:AL) PT at $59.60

Air Lease Corporation (NYSE:AL) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $66.00.

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Barclays reissued an “equal weight” rating and set a $65.00 target price (down from $68.00) on shares of Air Lease in a report on Tuesday, January 6th. Finally, Zacks Research upgraded Air Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th.

Insider Buying and Selling

In other Air Lease news, EVP Kishore Korde sold 20,662 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $64.10, for a total value of $1,324,434.20. Following the completion of the transaction, the executive vice president owned 50,091 shares in the company, valued at $3,210,833.10. This trade represents a 29.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven F. Udvar-Hazy sold 48,632 shares of Air Lease stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.18, for a total value of $3,121,201.76. Following the transaction, the director directly owned 14,050 shares of the company’s stock, valued at $901,729. The trade was a 77.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 483,125 shares of company stock valued at $30,937,868. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Air Lease

Several hedge funds have recently bought and sold shares of AL. True Wealth Design LLC increased its holdings in Air Lease by 2,980.0% during the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares during the period. Mather Group LLC. bought a new position in Air Lease in the 3rd quarter valued at $29,000. First Horizon Corp purchased a new position in shares of Air Lease during the 3rd quarter valued at $31,000. Los Angeles Capital Management LLC purchased a new position in shares of Air Lease during the 4th quarter valued at $32,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Air Lease by 273.2% in the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after purchasing an additional 407 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Trading Down 0.1%

Shares of Air Lease stock opened at $64.52 on Wednesday. Air Lease has a 52-week low of $38.25 and a 52-week high of $64.96. The stock’s 50-day simple moving average is $64.51 and its 200 day simple moving average is $63.83. The stock has a market capitalization of $7.23 billion, a P/E ratio of 6.93, a P/E/G ratio of 0.53 and a beta of 1.11. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.46 and a current ratio of 0.46.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.74. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. The firm had revenue of $679.54 million during the quarter, compared to the consensus estimate of $782.67 million. During the same quarter last year, the company earned $0.83 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. As a group, research analysts anticipate that Air Lease will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Monday, March 2nd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s payout ratio is presently 9.45%.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale?and?leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.