AerSale (NASDAQ:ASLE) Stock Rating Lowered by Wall Street Zen

Key Points

• AerSale was downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen, while Truist Financial reduced its rating from "buy" to "hold" with a price objective cut from $8.00 to $6.00.
• The stock currently has an average rating of "Hold" with an average target price of $7.00, based on recent analysis from multiple brokerages.
• AerSale's market cap stands at $402.45 million, with a recent stock price of $8.53 and a significant interest from institutional investors, who own 69.48% of the stock.

AerSale (NASDAQ:ASLE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Friday.

Several other brokerages have also recently issued reports on ASLE. Truist Financial cut AerSale from a "buy" rating to a "hold" rating and decreased their price objective for the company from $8.00 to $6.00 in a report on Friday, July 11th. Royal Bank Of Canada upped their price target on AerSale from $7.00 to $8.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.00.

AerSale Stock Down 0.7%

AerSale stock opened at $8.53 on Friday. The company has a market cap of $402.45 million, a PE ratio of 60.93 and a beta of 0.27. The business's 50-day simple moving average is $7.19 and its two-hundred day simple moving average is $6.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 3.87. AerSale has a fifty-two week low of $4.53 and a fifty-two week high of $9.12.

Institutional Investors Weigh In On AerSale

A number of large investors have recently made changes to their positions in the stock. State of Wyoming grew its position in shares of AerSale by 221.0% in the second quarter. State of Wyoming now owns 50,223 shares of the company's stock valued at $302,000 after purchasing an additional 34,576 shares in the last quarter. Raffles Associates LP lifted its stake in AerSale by 6.6% during the second quarter. Raffles Associates LP now owns 485,000 shares of the company's stock worth $2,915,000 after purchasing an additional 30,000 shares in the last quarter. Man Group plc acquired a new stake in shares of AerSale in the second quarter valued at $254,000. Brevan Howard Capital Management LP acquired a new stake in shares of AerSale in the second quarter valued at $156,000. Finally, Ameriprise Financial Inc. raised its stake in shares of AerSale by 11.6% in the second quarter. Ameriprise Financial Inc. now owns 165,350 shares of the company's stock valued at $994,000 after acquiring an additional 17,131 shares in the last quarter. 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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