Air Lease (NYSE:AL) Hits New 1-Year High - What's Next?

Air Lease Co. (NYSE:AL - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $59.27 and last traded at $58.04, with a volume of 1456059 shares changing hands. The stock had previously closed at $57.14.

Wall Street Analyst Weigh In

AL has been the subject of several research reports. StockNews.com raised shares of Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $72.00 to $50.00 in a report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. UBS Group set a $50.00 price target on Air Lease in a research report on Friday, March 7th. Finally, 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 report on Tuesday. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.43.

Air Lease Trading Up 1.6%

The company's 50 day simple moving average is $47.63 and its two-hundred day simple moving average is $47.74. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.33 and a beta of 1.33.

Air Lease (NYSE:AL - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.24 by $0.27. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The firm had revenue of $738.28 million during the quarter, compared to analyst estimates of $709.70 million. During the same quarter in the prior year, the business posted $0.87 EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts anticipate that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is presently 15.38%.

Insiders Place Their Bets

In other news, EVP Grant A. Levy sold 10,000 shares of the company's stock in a transaction dated 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 now owns 146,316 shares in the company, valued at $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 available through this hyperlink. Corporate insiders own 6.80% of the company's stock.

Institutional Trading of Air Lease

A number of institutional investors have recently bought and sold shares of the stock. Focus Partners Wealth acquired a new position in Air Lease during the 1st quarter valued at approximately $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Air Lease by 16.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 298,275 shares of the transportation company's stock worth $14,410,000 after buying an additional 41,912 shares during the period. United Services Automobile Association purchased a new stake in shares of Air Lease during the first quarter valued at $330,000. Great Lakes Advisors LLC increased its position in shares of Air Lease by 549.1% in the 1st quarter. Great Lakes Advisors LLC now owns 39,084 shares of the transportation company's stock valued at $1,888,000 after acquiring an additional 33,063 shares during the period. Finally, Caxton Associates LLP acquired a new position in shares of Air Lease in the 1st quarter valued at $2,873,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

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.

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