Air Lease (NYSE:AL) Receives Buy (B) Rating from Weiss Ratings

Key Points

• Weiss Ratings has restated a "buy (b)" rating for Air Lease (NYSE:AL), despite some analysts downgrading their ratings to "hold".
• Air Lease's stock is currently trading at approximately $63.66, showing a small decline in mid-day trading, with a market capitalization of $7.11 billion.
• The company recently reported earnings of $1.40 per share, surpassing expectations, with revenues up by 9.7% compared to the same quarter last year.

Air Lease (NYSE:AL - Get Free Report)'s stock had its "buy (b)" rating restated by stock analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other research analysts have also weighed in on the stock. TD Cowen lowered shares of Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price target on the stock. in a research report on Wednesday, September 3rd. Barclays restated an "overweight" rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, Cowen downgraded shares of Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Air Lease presently has an average rating of "Hold" and an average target price of $60.29.

Air Lease Stock Down 0.0%

AL stock traded down $0.01 during mid-day trading on Wednesday, hitting $63.66. 513,076 shares of the company were exchanged, compared to its average volume of 1,154,764. The company has a market capitalization of $7.11 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease has a twelve month low of $38.25 and a twelve month high of $64.30. The firm has a fifty day simple moving average of $60.73 and a 200 day simple moving average of $55.70.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. The company had revenue of $731.70 million during the quarter, compared to analyst estimates of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS. On average, research analysts forecast that Air Lease will post 5.16 earnings per share for the current fiscal year.

Insider Activity

In other Air Lease news, EVP Grant A. Levy sold 5,000 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total transaction of $317,850.00. Following the sale, the executive vice president directly owned 141,316 shares in the company, valued at approximately $8,983,458.12. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Beker sold 5,000 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the sale, the executive vice president owned 13,970 shares in the company, valued at $887,514.10. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,000 shares of company stock worth $746,380. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Air Lease

A number of hedge funds and other institutional investors have recently made changes to their positions in AL. Alpine Bank Wealth Management bought a new stake in shares of Air Lease during the 1st quarter worth about $25,000. Brooklyn Investment Group raised its holdings in shares of Air Lease by 152.4% in the 1st quarter. Brooklyn Investment Group now owns 588 shares of the transportation company's stock worth $28,000 after purchasing an additional 355 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Air Lease by 273.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company's stock worth $33,000 after purchasing an additional 407 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Air Lease by 264.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company's stock worth $43,000 after purchasing an additional 647 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Air Lease by 120.7% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 790 shares of the transportation company's stock worth $46,000 after purchasing an additional 432 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.

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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