Air Lease (NYSE:AL – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other brokerages have also issued reports on AL. Bank of America dropped their target price on Air Lease from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 30th. Citigroup raised their price objective on shares of Air Lease from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, August 11th. Finally, Barclays assumed coverage on shares of Air Lease in a report on Wednesday, November 15th. They set an “overweight” rating and a $46.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.60.
Air Lease Price Performance
NYSE:AL opened at $39.33 on Friday. Air Lease has a 12-month low of $33.33 and a 12-month high of $46.20. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 0.94 and a beta of 1.72. The company’s 50-day moving average is $36.96 and its two-hundred day moving average is $39.57. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68.
Air Lease (NYSE:AL – Get Free Report) last released its earnings results on Monday, November 6th. The transportation company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.02. The firm had revenue of $659.36 million for the quarter, compared to the consensus estimate of $659.17 million. Air Lease had a return on equity of 7.92% and a net margin of 20.97%. Research analysts expect that Air Lease will post 4.34 EPS for the current year.
Institutional Investors Weigh In On Air Lease
A number of institutional investors and hedge funds have recently modified their holdings of AL. Bank of Montreal Can increased its position in shares of Air Lease by 140.6% in the first quarter. Bank of Montreal Can now owns 126,761 shares of the transportation company’s stock worth $5,642,000 after acquiring an additional 74,067 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Air Lease in the first quarter worth approximately $96,000. BlackRock Inc. grew its stake in Air Lease by 1.6% during the 1st quarter. BlackRock Inc. now owns 5,763,177 shares of the transportation company’s stock valued at $257,324,000 after acquiring an additional 90,225 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Air Lease by 7.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 7,825 shares of the transportation company’s stock valued at $368,000 after acquiring an additional 535 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Air Lease by 7.3% during the 1st quarter. Sei Investments Co. now owns 96,738 shares of the transportation company’s stock valued at $4,324,000 after acquiring an additional 6,568 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.
About Air Lease
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It also sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. In addition, the company provides fleet management services to investors and owners of aircraft portfolios.