Air Lease Co. (NYSE:AL - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $55.80 and last traded at $55.51, with a volume of 961331 shares traded. The stock had previously closed at $53.65.
Analysts Set New Price Targets
A number of analysts have weighed in on AL shares. JPMorgan Chase & Co. upped their price target 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 objective on shares of Air Lease in a research note on Friday, March 7th. Bank of America cut Air Lease from a "buy" rating to an "underperform" rating and cut their price target for the company from $72.00 to $50.00 in a report on Friday, March 7th. Finally, StockNews.com raised shares of Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.67.
Check Out Our Latest Research Report on Air Lease
Air Lease Trading Up 0.1%
The business's 50 day simple moving average is $46.83 and its 200-day simple moving average is $47.46. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $6.42 billion, a P/E ratio of 17.26, a PEG ratio of 1.33 and a beta of 1.33.
Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.27. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The company had revenue of $738.28 million for the quarter, compared to the consensus estimate of $709.70 million. During the same quarter in the prior year, the business posted $0.87 EPS. The firm's quarterly revenue was up 11.3% on a year-over-year basis. As a group, analysts forecast that Air Lease Co. will post 5.16 EPS for the current year.
Air Lease Dividend Announcement
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 paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.53%. The ex-dividend date is Wednesday, June 4th. Air Lease's payout ratio is 15.38%.
Insider Activity
In other news, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 146,316 shares of the company's stock, valued at $8,318,064.60. This 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. 6.64% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of AL. SBI Securities Co. Ltd. bought a new position in Air Lease in the fourth quarter valued at approximately $31,000. Raymond James Financial Inc. bought a new position in Air Lease during the fourth quarter worth about $31,414,000. Barclays PLC raised its position in shares of Air Lease by 104.6% in the third quarter. Barclays PLC now owns 86,033 shares of the transportation company's stock valued at $3,897,000 after buying an additional 43,981 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Air Lease by 14.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,022,459 shares of the transportation company's stock valued at $49,293,000 after acquiring an additional 131,453 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in Air Lease during the fourth quarter worth about $1,127,000. 94.59% of the stock is currently owned by institutional investors.
About Air Lease
(
Get Free Report)
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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