AerSale (NASDAQ:ASLE) Price Target Lowered to $7.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut AerSale’s price target from $8.00 to $7.00 while maintaining a “sector perform” rating, implying roughly 23% upside from the stock’s $5.68 price.
• AerSale shares fell 3.7% to $5.68, while the company’s latest quarterly results missed expectations: a loss of $0.09 per share versus the forecasted $0.06 profit and revenue of $70.93 million versus $81.24 million expected.
• Analyst sentiment remains cautious, with four “hold” ratings and one “sell”; MarketBeat reports an overall “Reduce” rating and an average price target of $6.83. Institutional investors own approximately 69.5% of the company.

AerSale (NASDAQ:ASLE - Get Free Report) had its price objective cut by analysts at Royal Bank Of Canada from $8.00 to $7.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 23.24% from the stock's current price.

Several other brokerages have also recently weighed in on ASLE. B. Riley Financial initiated coverage on shares of AerSale in a research note on Monday, June 29th. They issued a "neutral" rating and a $7.50 price objective on the stock. Zacks Research upgraded shares of AerSale to a "hold" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings lowered AerSale from a "hold (c-)" rating to a "sell (d)" rating in a research report on Friday, May 15th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $6.83.

AerSale Stock Down 3.7%

NASDAQ:ASLE traded down $0.22 on Monday, reaching $5.68. 437,426 shares of the stock traded hands, compared to its average volume of 322,959. The company has a current ratio of 3.74, a quick ratio of 0.89 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $268.38 million, a price-to-earnings ratio of -70.88 and a beta of 0.28. AerSale has a 12 month low of $5.56 and a 12 month high of $9.12. The company's fifty day simple moving average is $6.29 and its 200 day simple moving average is $6.65.

AerSale (NASDAQ:ASLE - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.15). AerSale had a negative net margin of 1.23% and a negative return on equity of 0.27%. The firm had revenue of $70.93 million for the quarter, compared to analysts' expectations of $81.24 million. Equities analysts predict that AerSale will post 0.18 EPS for the current fiscal year.

Insider Activity

In other AerSale news, insider Gary Edmund Jones sold 7,491 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total transaction of $47,492.94. Following the sale, the insider owned 162,405 shares in the company, valued at approximately $1,029,647.70. The trade was a 4.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Frederick Craig Wright sold 4,182 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $26,513.88. Following the completion of the sale, the insider directly owned 213,531 shares in the company, valued at approximately $1,353,786.54. The trade was a 1.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 21,316 shares of company stock worth $135,160. Insiders own 20.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ASLE. BlackRock Inc. acquired a new stake in AerSale in the 2nd quarter worth about $17,358,000. Deutsche Bank AG acquired a new stake in AerSale during the second quarter worth about $228,000. Bank of New York Mellon Corp purchased a new stake in shares of AerSale during the 2nd quarter valued at approximately $970,000. GSA Capital Partners LLP purchased a new position in shares of AerSale during the 2nd quarter worth $792,000. Finally, Marquette Asset Management LLC acquired a new position in shares of AerSale in the 2nd quarter worth approximately $520,000. Hedge funds and other institutional investors own 69.48% of the company's stock.

About AerSale

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source