Air Lease Corp (AL) Receives Average Recommendation of “Buy” from Analysts

Air Lease Corp (NYSE:AL) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $55.61.

Several equities research analysts have recently commented on the stock. Bank of America restated a “buy” rating and issued a $57.00 price target on shares of Air Lease in a report on Thursday, August 16th. ValuEngine lowered shares of Air Lease from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Zacks Investment Research upgraded shares of Air Lease from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, December 5th. Compass Point reiterated a “buy” rating and set a $58.00 price objective on shares of Air Lease in a research note on Sunday, August 12th. Finally, Seaport Global Securities started coverage on shares of Air Lease in a research note on Wednesday, October 10th. They set a “buy” rating for the company.

NYSE:AL opened at $36.32 on Monday. Air Lease has a one year low of $35.97 and a one year high of $50.70. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $3.78 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 0.93 and a beta of 1.83.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, November 8th. The transportation company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.23 by $0.09. Air Lease had a net margin of 51.81% and a return on equity of 11.44%. The business had revenue of $450.70 million during the quarter, compared to analyst estimates of $443.01 million. During the same quarter in the previous year, the business posted $1.50 EPS. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. Research analysts forecast that Air Lease will post 4.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 9th. Investors of record on Thursday, December 13th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Wednesday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.10. Air Lease’s payout ratio is 10.96%.

In related news, EVP Grant A. Levy sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $45.13, for a total transaction of $676,950.00. Following the completion of the transaction, the executive vice president now owns 153,399 shares in the company, valued at approximately $6,922,896.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 9.32% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AL. Advisors Asset Management Inc. grew its position in Air Lease by 1,105.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 37,552 shares of the transportation company’s stock worth $100,000 after purchasing an additional 34,436 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in Air Lease by 2,075.2% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 2,980 shares of the transportation company’s stock worth $137,000 after purchasing an additional 2,843 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Air Lease by 224.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,618 shares of the transportation company’s stock worth $153,000 after purchasing an additional 2,502 shares during the last quarter. Meadow Creek Investment Management LLC purchased a new stake in Air Lease during the 2nd quarter worth approximately $173,000. Finally, Glen Harbor Capital Management LLC purchased a new stake in Air Lease during the 2nd quarter worth approximately $210,000. 88.20% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Air Lease (NYSE:AL)

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