AerSale (NASDAQ:ASLE) Lowered to "Hold" Rating by Zacks Research

Key Points

• AerSale was downgraded from a "strong-buy" to a "hold" rating by Zacks Research, highlighting a cautious outlook from investment analysts.
• Other analysts also adjusted their ratings, with Wall Street Zen and Truist Financial both lowering their recommendations for the stock.
• The average target price for AerSale shares is currently set at $7.00, with the stock trading at around $7.66.

AerSale (NASDAQ:ASLE - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on ASLE. Wall Street Zen lowered shares of AerSale from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Truist Financial lowered shares of AerSale from a "buy" rating to a "hold" rating and decreased their price target for the stock from $8.00 to $6.00 in a research report on Friday, July 11th. Royal Bank Of Canada lifted their price target on shares of AerSale from $7.00 to $8.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of AerSale in a research report on Wednesday. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $7.00.

AerSale Price Performance

NASDAQ ASLE opened at $7.66 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 0.82. The firm has a market capitalization of $361.40 million, a PE ratio of 54.71 and a beta of 0.26. AerSale has a 12 month low of $4.53 and a 12 month high of $9.12. The company's 50 day simple moving average is $8.26 and its 200 day simple moving average is $7.05.

Hedge Funds Weigh In On AerSale

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. M3F Inc. grew its position in AerSale by 11.3% during the 2nd quarter. M3F Inc. now owns 3,472,920 shares of the company's stock worth $20,872,000 after purchasing an additional 353,222 shares in the last quarter. Private Management Group Inc. boosted its stake in shares of AerSale by 7.3% during the 1st quarter. Private Management Group Inc. now owns 1,191,512 shares of the company's stock valued at $8,924,000 after buying an additional 81,378 shares during the period. Acadian Asset Management LLC boosted its stake in shares of AerSale by 60.7% during the 2nd quarter. Acadian Asset Management LLC now owns 940,582 shares of the company's stock valued at $5,646,000 after buying an additional 355,178 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of AerSale by 4.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 893,850 shares of the company's stock valued at $6,695,000 after buying an additional 34,880 shares during the period. Finally, Raffles Associates LP boosted its stake in shares of AerSale by 6.6% during the 2nd quarter. Raffles Associates LP now owns 485,000 shares of the company's stock valued at $2,915,000 after buying an additional 30,000 shares during the period. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).

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