Air Lease’s (AL) Buy Rating Reiterated at Compass Point

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Air Lease (NYSE:AL)‘s stock had its “buy” rating reaffirmed by analysts at Compass Point in a research report issued on Sunday. They presently have a $58.00 price objective on the transportation company’s stock. Compass Point’s price objective would indicate a potential upside of 28.60% from the stock’s previous close.

Several other brokerages have also commented on AL. Zacks Investment Research lowered shares of Air Lease from a “hold” rating to a “sell” rating in a report on Monday, August 6th. Royal Bank of Canada boosted their price target on shares of Air Lease from $91.00 to $93.00 and gave the stock a “top pick” rating in a report on Friday. Finally, ValuEngine lowered shares of Air Lease from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.65.

Air Lease traded up $0.96, reaching $45.10, during trading on Friday, according to MarketBeat.com. 1,153,531 shares of the company’s stock were exchanged, compared to its average volume of 626,939. Air Lease has a 1 year low of $38.46 and a 1 year high of $50.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $4.59 billion, a PE ratio of 12.36, a P/E/G ratio of 1.37 and a beta of 1.80.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, August 9th. The transportation company reported $1.04 earnings per share for the quarter, meeting the consensus estimate of $1.04. The firm had revenue of $397.80 million during the quarter, compared to analyst estimates of $400.11 million. Air Lease had a net margin of 51.22% and a return on equity of 11.08%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS. analysts predict that Air Lease will post 4.45 EPS for the current fiscal year.

In other news, EVP Marc H. Baer sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $45.52, for a total transaction of $227,600.00. Following the transaction, the executive vice president now owns 132,891 shares of the company’s stock, valued at approximately $6,049,198.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John D. Poerschke sold 12,144 shares of the business’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $44.98, for a total transaction of $546,237.12. Following the transaction, the executive vice president now directly owns 43,500 shares in the company, valued at approximately $1,956,630. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,144 shares of company stock worth $1,990,187. Corporate insiders own 9.32% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of AL. Guggenheim Capital LLC raised its holdings in Air Lease by 99.9% in the 4th quarter. Guggenheim Capital LLC now owns 14,030 shares of the transportation company’s stock valued at $675,000 after buying an additional 7,013 shares during the period. Verity Asset Management Inc. purchased a new stake in Air Lease during the first quarter worth about $289,000. HL Financial Services LLC increased its stake in Air Lease by 197.2% during the first quarter. HL Financial Services LLC now owns 21,400 shares of the transportation company’s stock worth $912,000 after purchasing an additional 14,200 shares during the period. Daiwa Securities Group Inc. increased its stake in Air Lease by 4.9% during the first quarter. Daiwa Securities Group Inc. now owns 106,083 shares of the transportation company’s stock worth $4,521,000 after purchasing an additional 4,957 shares during the period. Finally, Alps Advisors Inc. purchased a new stake in Air Lease during the first quarter worth about $467,000. Hedge funds and other institutional investors own 85.62% of the company’s stock.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

Read More: Market Capitalization and Individual Investors

Analyst Recommendations for Air Lease (NYSE:AL)

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