Lyrical Asset Management LP increased its holdings in shares of Air Lease Co. (NYSE:AL) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,454,942 shares of the transportation company’s stock after purchasing an additional 66,440 shares during the period. Air Lease makes up 2.1% of Lyrical Asset Management LP’s portfolio, making the stock its 22nd biggest position. Lyrical Asset Management LP owned approximately 3.04% of Air Lease worth $153,469,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in AL. BlackRock Inc. lifted its holdings in shares of Air Lease by 35.6% during the 3rd quarter. BlackRock Inc. now owns 6,353,494 shares of the transportation company’s stock valued at $186,920,000 after purchasing an additional 1,666,874 shares in the last quarter. JPMorgan Chase & Co. raised its position in Air Lease by 348.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 644,369 shares of the transportation company’s stock valued at $18,860,000 after buying an additional 500,702 shares during the last quarter. Stamina Capital Management LP acquired a new stake in Air Lease in the 3rd quarter valued at approximately $13,239,000. Arrowstreet Capital Limited Partnership raised its position in Air Lease by 64.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,129,383 shares of the transportation company’s stock valued at $33,226,000 after buying an additional 444,276 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its position in Air Lease by 155,106.8% in the 4th quarter. Peregrine Capital Management LLC now owns 366,288 shares of the transportation company’s stock valued at $16,271,000 after buying an additional 366,052 shares during the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.
AL has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Air Lease from $45.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, January 25th. Zacks Investment Research lowered Air Lease from a “hold” rating to a “sell” rating and set a $46.00 target price on the stock. in a research report on Thursday, February 11th. Cowen lifted their target price on Air Lease from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, January 26th. Finally, Credit Suisse Group lifted their target price on Air Lease from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, November 10th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $44.60.
Shares of AL stock traded down $0.43 during trading on Tuesday, reaching $46.06. 6,102 shares of the company’s stock were exchanged, compared to its average volume of 800,077. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $5.24 billion, a PE ratio of 9.47, a PEG ratio of 0.66 and a beta of 2.20. Air Lease Co. has a twelve month low of $8.41 and a twelve month high of $47.74. The firm’s fifty day moving average price is $43.11 and its 200-day moving average price is $36.40.
Air Lease (NYSE:AL) last posted its earnings results on Sunday, February 21st. The transportation company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.17. The business had revenue of $489.00 million for the quarter, compared to analyst estimates of $490.07 million. Air Lease had a return on equity of 9.83% and a net margin of 27.48%. The firm’s revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 EPS. As a group, analysts anticipate that Air Lease Co. will post 4.31 EPS for the current fiscal year.
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: Consumer behavior in bull markets
Want to see what other hedge funds are holding AL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Lease Co. (NYSE:AL).
Receive News & Ratings for Air Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease and related companies with MarketBeat.com's FREE daily email newsletter.