Barclays Raises Air Lease (NYSE:AL) Price Target to $67.00

Air Lease (NYSE:AL - Get Free Report) had its price target increased by investment analysts at Barclays from $56.00 to $67.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the transportation company's stock. Barclays's price target would indicate a potential upside of 14.16% from the company's previous close.

Several other research analysts also recently issued reports on AL. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and upped their price objective for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.29.

Air Lease Stock Performance

Shares of Air Lease stock traded down $0.32 during trading on Thursday, reaching $58.69. The company's stock had a trading volume of 559,373 shares, compared to its average volume of 784,844. The business's 50-day moving average price is $56.84 and its 200-day moving average price is $49.92. The firm has a market cap of $6.56 billion, a PE ratio of 10.26, a P/E/G ratio of 0.63 and a beta of 1.35. Air Lease has a 52 week low of $38.25 and a 52 week high of $60.41. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.53.

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

Insider Buying and Selling at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the completion of the sale, the executive vice president directly owned 146,316 shares of the company's stock, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Air Lease

Large investors have recently made changes to their positions in the business. Norges Bank bought a new position in Air Lease in the 4th quarter worth about $49,415,000. Capital Research Global Investors boosted its position in shares of Air Lease by 50.7% during the 4th quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock valued at $98,830,000 after acquiring an additional 690,000 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Air Lease during the 4th quarter valued at about $31,414,000. Allspring Global Investments Holdings LLC lifted its position in Air Lease by 19.7% in the 1st 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 last quarter. Finally, M3F Inc. bought a new stake in Air Lease in the 1st quarter worth approximately $19,776,000. 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.