AerSale (NASDAQ:ASLE) Given New $8.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for AerSale (NASDAQ:ASLE) from $7.00 to $8.00, indicating a potential upside of 5.60% from the current price.
• AerSale's stock increased by 23.0%, reaching $7.58 during recent trading, with a significant trading volume of 741,487 shares.
• Institutional investors significantly increased their stakes, with GAMMA Investing LLC raising its holdings in AerSale by 3,427.5% in the first quarter.

AerSale (NASDAQ:ASLE - Free Report) had its price objective hoisted by Royal Bank Of Canada from $7.00 to $8.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities research analysts also recently issued reports about the company. Truist Financial downgraded AerSale from a "buy" rating to a "hold" rating and dropped their target price for the stock from $8.00 to $6.00 in a report on Friday, July 11th. Wall Street Zen downgraded AerSale from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.33.

AerSale Stock Up 8.8%

AerSale stock traded up $0.67 during mid-day trading on Thursday, hitting $8.26. The company had a trading volume of 1,116,822 shares, compared to its average volume of 361,575. The company has a current ratio of 4.54, a quick ratio of 0.88 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $6.07 and its two-hundred day moving average price is $6.68. AerSale has a 12 month low of $4.53 and a 12 month high of $8.76. The company has a market capitalization of $387.06 million, a PE ratio of 59.00 and a beta of 0.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Nuveen Asset Management LLC lifted its holdings in shares of AerSale by 22.4% during the fourth quarter. Nuveen Asset Management LLC now owns 572,882 shares of the company's stock valued at $3,609,000 after purchasing an additional 104,663 shares in the last quarter. Raymond James Financial Inc. bought a new position in AerSale in the fourth quarter valued at about $261,000. BNP Paribas Financial Markets bought a new position in AerSale in the fourth quarter valued at about $377,000. GAMMA Investing LLC lifted its holdings in AerSale by 3,427.5% in the first quarter. GAMMA Investing LLC now owns 4,621 shares of the company's stock valued at $35,000 after acquiring an additional 4,490 shares during the period. Finally, Private Management Group Inc. lifted its holdings in AerSale by 7.3% in the first quarter. Private Management Group Inc. now owns 1,191,512 shares of the company's stock valued at $8,924,000 after acquiring an additional 81,378 shares during the period. 69.48% of the stock is owned by institutional investors.

AerSale Company Profile

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).