Shares of Air Lease Corp (NYSE:AL) have earned an average rating of “Hold” from the eight brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $47.80.

A number of equities analysts recently issued reports on AL shares. ValuEngine lowered shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Cowen reissued an “outperform” rating and issued a $49.00 price target (down previously from $50.00) on shares of Air Lease in a report on Friday, August 9th. Finally, Zacks Investment Research lowered shares of Air Lease from a “hold” rating to a “sell” rating and set a $43.00 price target on the stock. in a report on Friday, August 2nd.

Shares of AL stock traded up $0.29 during trading on Friday, hitting $39.53. 7,644 shares of the company were exchanged, compared to its average volume of 828,772. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 8.59, a P/E/G ratio of 1.16 and a beta of 1.95. The business’s 50-day simple moving average is $40.51 and its 200 day simple moving average is $38.21. Air Lease has a twelve month low of $28.13 and a twelve month high of $47.34.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, August 8th. The transportation company reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.17). Air Lease had a net margin of 30.00% and a return on equity of 11.16%. The firm had revenue of $471.40 million during the quarter, compared to the consensus estimate of $483.40 million. During the same period in the prior year, the business earned $1.44 EPS. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, equities analysts forecast that Air Lease will post 5.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Sunday, September 15th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.32%. The ex-dividend date is Thursday, September 12th. Air Lease’s dividend payout ratio (DPR) is presently 11.30%.

In other news, EVP Marc H. Baer sold 130,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $36.80, for a total value of $4,784,000.00. Following the sale, the executive vice president now owns 275,008 shares in the company, valued at approximately $10,120,294.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven F. Udvar-Hazy sold 249,991 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $39.25, for a total transaction of $9,812,146.75. Following the completion of the sale, the chairman now owns 1,334,842 shares in the company, valued at approximately $52,392,548.50. The disclosure for this sale can be found here. Insiders sold a total of 903,543 shares of company stock worth $34,799,271 in the last three months. Insiders own 8.76% of the company’s stock.

Several large investors have recently modified their holdings of the company. Lyrical Asset Management LP acquired a new position in Air Lease during the 2nd quarter worth about $168,541,000. Ellis Investment Partners LLC lifted its position in Air Lease by 3,293.8% during the 1st quarter. Ellis Investment Partners LLC now owns 2,259,600 shares of the transportation company’s stock worth $2,259,000 after buying an additional 2,193,019 shares in the last quarter. Norges Bank acquired a new position in Air Lease during the 4th quarter worth about $18,979,000. Bank of America Corp DE lifted its position in Air Lease by 65.5% during the 2nd quarter. Bank of America Corp DE now owns 1,318,676 shares of the transportation company’s stock worth $54,515,000 after buying an additional 522,002 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Air Lease by 54.3% during the 1st quarter. Wells Fargo & Company MN now owns 1,210,056 shares of the transportation company’s stock worth $41,565,000 after buying an additional 426,051 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.

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.

Read More: Equity Income

Analyst Recommendations for Air Lease (NYSE:AL)

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