Air Lease (NYSE:AL) Receives "Overweight" Rating from Barclays

Air Lease (NYSE:AL - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at Barclays in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a $67.00 target price on the transportation company's stock, up from their prior target price of $56.00. Barclays's price target would indicate a potential upside of 14.16% from the company's previous close.

AL has been the subject of a number of other research reports. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Air Lease has an average rating of "Moderate Buy" and an average target price of $59.29.

Air Lease Price Performance

Shares of NYSE AL opened at $58.69 on Thursday. Air Lease has a 1-year low of $38.25 and a 1-year high of $60.41. The firm has a market capitalization of $6.56 billion, a PE ratio of 10.26, a P/E/G ratio of 0.63 and a beta of 1.35. The business's fifty day moving average price is $57.05 and its two-hundred day moving average price is $49.99. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.39 and a quick ratio of 0.39.

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

Insider Transactions at Air Lease

In related news, EVP Grant A. Levy sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total transaction of $568,500.00. Following the sale, the executive vice president owned 146,316 shares in the company, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.64% of the company's stock.

Hedge Funds Weigh In On Air Lease

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Air Lease by 18.7% in the 1st quarter. Bessemer Group Inc. now owns 10,410 shares of the transportation company's stock valued at $503,000 after purchasing an additional 1,640 shares during the period. Verity Asset Management Inc. bought a new stake in Air Lease during the 1st quarter worth approximately $348,000. SBI Securities Co. Ltd. bought a new position in shares of Air Lease in the fourth quarter valued at approximately $31,000. Harbor Capital Advisors Inc. grew its holdings in shares of Air Lease by 17.0% in the first quarter. Harbor Capital Advisors Inc. now owns 190,296 shares of the transportation company's stock valued at $9,193,000 after acquiring an additional 27,611 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Air Lease by 10.2% in the first quarter. Sequoia Financial Advisors LLC now owns 71,283 shares of the transportation company's stock valued at $3,444,000 after acquiring an additional 6,600 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company's stock.

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.