Brokerages Set Air Lease Corporation (NYSE:AL) Target Price at $60.29

Key Points

• Air Lease Corporation (NYSE:AL) has received an average recommendation of "Hold" from eight analysts, with one sell rating, three hold ratings, and four buy ratings.
• The company's stock recently reported a quarterly earnings of $1.40 per share, surpassing analyst estimates, and showed a revenue increase of 9.7% compared to the previous year.
• Air Lease has announced a quarterly dividend of $0.22 per share, representing an annualized yield of 1.4%, with the payout date set for October 8th.

Air Lease Corporation (NYSE:AL - Get Free Report) has received an average recommendation of "Hold" from the eight analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $60.2857.

Several equities analysts have issued reports on the stock. Cowen cut shares of Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their target price for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft cut shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 target price on the stock. in a research note on Wednesday, September 3rd. Barclays restated an "overweight" rating and set a $67.00 target price (up previously from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, TD Cowen cut shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd.

Air Lease Stock Up 0.1%

Air Lease stock traded up $0.04 during mid-day trading on Wednesday, reaching $63.56. The stock had a trading volume of 3,438,905 shares, compared to its average volume of 2,441,698. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.65 and a beta of 1.37. The company has a 50-day moving average price of $58.96 and a two-hundred day moving average price of $53.79. Air Lease has a one year low of $38.25 and a one year high of $64.30.

Air Lease (NYSE:AL - Get Free Report) last posted its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.07. The business had revenue of $731.70 million for the quarter, compared to analysts' expectations of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. On average, analysts expect that Air Lease will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease's dividend payout ratio (DPR) is presently 10.68%.

Insider Buying and Selling at Air Lease

In related news, EVP David Beker sold 2,000 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $55.44, for a total value of $110,880.00. Following the completion of the transaction, the executive vice president directly owned 19,770 shares of the company's stock, valued at approximately $1,096,048.80. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Alpine Bank Wealth Management purchased a new position in shares of Air Lease in the first quarter valued at $25,000. Parkside Financial Bank & Trust boosted its stake in Air Lease by 273.2% during the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company's stock worth $33,000 after buying an additional 407 shares during the period. Brooklyn Investment Group boosted its stake in Air Lease by 152.4% during the first quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock worth $28,000 after buying an additional 355 shares during the period. Versant Capital Management Inc boosted its stake in Air Lease by 88.1% during the first quarter. Versant Capital Management Inc now owns 743 shares of the transportation company's stock worth $36,000 after buying an additional 348 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in Air Lease by 120.7% during the second quarter. Steward Partners Investment Advisory LLC now owns 790 shares of the transportation company's stock worth $46,000 after buying an additional 432 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.