AerSale (NASDAQ:ASLE) Price Target Lowered to $7.00 at Royal Bank Of Canada

AerSale (NASDAQ:ASLE) had its price objective lowered by analysts at Royal Bank Of Canada from $8.00 to $7.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 23.24% from the stock’s previous close.

A number of other equities analysts have also recently commented on ASLE. Zacks Research raised shares of AerSale to a “hold” rating in a report on Wednesday, July 1st. B. Riley Financial started coverage on shares of AerSale in a research report on Monday, June 29th. They set a “neutral” rating and a $7.50 price objective on the stock. Finally, Weiss Ratings lowered shares of AerSale from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, May 15th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AerSale currently has a consensus rating of “Reduce” and an average target price of $6.83.

AerSale Stock Down 3.7%

NASDAQ:ASLE traded down $0.22 during midday trading on Monday, hitting $5.68. 437,426 shares of the company were exchanged, compared to its average volume of 322,959. AerSale has a fifty-two week low of $5.56 and a fifty-two week high of $9.12. The company has a market capitalization of $268.38 million, a PE ratio of -70.88 and a beta of 0.28. The company has a current ratio of 3.74, a quick ratio of 0.89 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $6.29 and a 200 day simple moving average of $6.65.

AerSale (NASDAQ:ASLE) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%.The firm had revenue of $70.93 million for the quarter, compared to analyst estimates of $81.24 million. As a group, equities analysts anticipate that AerSale will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Frederick Craig Wright sold 4,182 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $26,513.88. Following the transaction, the insider directly owned 213,531 shares in the company, valued at approximately $1,353,786.54. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gary Edmund Jones sold 7,491 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $47,492.94. Following the transaction, the insider directly owned 162,405 shares of the company’s stock, valued at $1,029,647.70. This represents a 4.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 21,316 shares of company stock worth $135,160 over the last 90 days. Company insiders own 20.10% of the company’s stock.

Institutional Trading of AerSale

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of AerSale in the second quarter valued at $17,358,000. Deutsche Bank AG acquired a new stake in shares of AerSale during the second quarter worth approximately $228,000. Bank of New York Mellon Corp acquired a new position in AerSale in the 2nd quarter valued at approximately $970,000. GSA Capital Partners LLP acquired a new position in shares of AerSale in the second quarter worth $792,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of AerSale during the second quarter worth $520,000. Institutional investors and hedge funds own 69.48% of the company’s stock.

About AerSale

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear?down and component overhaul, used serviceable material programs and end?of?life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.