Air Lease Corp (AL) Receives $57.38 Consensus Price Target from Analysts

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Shares of Air Lease Corp (NYSE:AL) have been assigned an average rating of “Buy” from the twelve research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $57.38.

A number of research firms have weighed in on AL. Zacks Investment Research downgraded Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. ValuEngine downgraded Air Lease from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 2nd. TheStreet downgraded Air Lease from a “b-” rating to a “c+” rating in a research report on Wednesday, January 2nd. Finally, Goldman Sachs Group started coverage on Air Lease in a research report on Monday, April 8th. They set a “buy” rating and a $52.00 price objective for the company.

AL opened at $37.63 on Friday. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 0.90 and a beta of 2.02. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.85 and a quick ratio of 0.85. Air Lease has a 1-year low of $28.13 and a 1-year high of $47.34.

Air Lease (NYSE:AL) last released its earnings results on Thursday, February 21st. The transportation company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. The firm had revenue of $449.98 million during the quarter, compared to the consensus estimate of $457.55 million. Air Lease had a return on equity of 11.45% and a net margin of 30.41%. On average, analysts predict that Air Lease will post 5.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Tuesday, March 19th. Air Lease’s dividend payout ratio (DPR) is presently 11.30%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP increased its position in Air Lease by 3.6% during the fourth quarter. Two Sigma Advisers LP now owns 7,600 shares of the transportation company’s stock worth $230,000 after buying an additional 267 shares during the last quarter. First Mercantile Trust Co. increased its position in Air Lease by 41.5% during the fourth quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock worth $28,000 after buying an additional 270 shares during the last quarter. AlphaOne Investment Services LLC increased its position in Air Lease by 17.9% during the fourth quarter. AlphaOne Investment Services LLC now owns 2,300 shares of the transportation company’s stock worth $69,000 after buying an additional 349 shares during the last quarter. ETF Managers Group LLC increased its position in Air Lease by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 3,060 shares of the transportation company’s stock worth $92,000 after buying an additional 417 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Air Lease by 24.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,348 shares of the transportation company’s stock worth $71,000 after buying an additional 454 shares during the last quarter. 85.51% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Company Profile

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.

See Also: Blue-Chip Stocks

Analyst Recommendations for Air Lease (NYSE:AL)

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