Analysts Set Air Lease Corporation (NYSE:AL) Target Price at $57.43

Shares of Air Lease Corporation (NYSE:AL - Get Free Report) have received an average rating of "Moderate Buy" from the six brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $57.43.

Several research firms recently commented on AL. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. Finally, UBS Group set a $50.00 target price on shares of Air Lease in a research note on Friday, March 7th.

Insiders Place Their Bets

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total transaction of $568,500.00. Following the transaction, the executive vice president directly owned 146,316 shares in the company, valued at $8,318,064.60. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Air Lease

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Air Lease by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company's stock worth $318,479,000 after acquiring an additional 31,274 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Air Lease by 1.3% during the first quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company's stock valued at $263,476,000 after purchasing an additional 69,629 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Air Lease by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company's stock worth $242,778,000 after purchasing an additional 60,216 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Air Lease by 10.4% in the first quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company's stock worth $172,143,000 after buying an additional 336,376 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Air Lease by 19.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock worth $162,492,000 after buying an additional 553,080 shares during the period. Hedge funds and other institutional investors own 94.59% of the company's stock.

Air Lease Price Performance

Shares of AL stock traded down $0.19 during trading hours on Friday, reaching $58.52. The stock had a trading volume of 732,928 shares, compared to its average volume of 786,494. The stock's fifty day simple moving average is $54.71 and its 200 day simple moving average is $49.35. The firm has a market capitalization of $6.54 billion, a PE ratio of 10.23, a PEG ratio of 0.63 and a beta of 1.36. Air Lease has a 12 month low of $38.25 and a 12 month high of $59.27. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.53.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.24 by $0.27. The firm had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. Air Lease had a net margin of 24.77% and a return on equity of 8.04%. The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $0.87 EPS. On average, equities research analysts predict that Air Lease will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.50%. Air Lease's dividend payout ratio is 15.38%.

About Air Lease

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.