Air Lease (NYSE:AL) Sees Strong Trading Volume - Here's What Happened

Key Points

• Air Lease Corporation's shares experienced unusual trading volume, with 844,457 shares changing hands on Wednesday, down 5% from the previous session.
• Analyst ratings for Air Lease have been mixed, with Citigroup upgrading to a "buy" rating and a target price of $68.00, while Deutsche Bank downgraded to "hold" with a $65.00 target.
• The company reported a Q2 earnings per share of $1.40, beating forecasts, and will pay a quarterly dividend of $0.22 per share on October 8th, reflecting a yield of 1.4%.

Air Lease Corporation (NYSE:AL - Get Free Report) shares saw an uptick in trading volume on Wednesday . 844,457 shares traded hands during mid-day trading, a decline of 5% from the previous session's volume of 889,560 shares.The stock last traded at $64.08 and had previously closed at $64.06.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AL. Barclays restated an "overweight" rating and issued a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft lowered shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price objective for the company. in a report on Wednesday. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and raised their target price for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. Cowen downgraded shares of Air Lease from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, TD Cowen downgraded Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Air Lease has an average rating of "Hold" and an average price target of $60.29.

Air Lease Price Performance

The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 7.73, a P/E/G ratio of 0.66 and a beta of 1.37. The company has a fifty day moving average price of $58.42 and a two-hundred day moving average price of $53.10.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The transportation company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.07. The company had revenue of $731.70 million for 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%. Air Lease's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 earnings per share. On average, equities research analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, September 3rd. Air Lease's dividend payout ratio (DPR) is 10.68%.

Insider Buying and Selling at Air Lease

In other news, EVP David Beker sold 2,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $55.44, for a total transaction of $110,880.00. Following the transaction, the executive vice president directly owned 19,770 shares in the company, valued at $1,096,048.80. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.64% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV purchased a new stake in Air Lease during the fourth quarter worth about $202,000. BNP Paribas Financial Markets increased its position in Air Lease by 46.0% during the 4th quarter. BNP Paribas Financial Markets now owns 5,063 shares of the transportation company's stock worth $244,000 after purchasing an additional 1,595 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Air Lease by 5.3% in the fourth quarter. Captrust Financial Advisors now owns 11,506 shares of the transportation company's stock valued at $555,000 after buying an additional 582 shares during the last quarter. Deutsche Bank AG raised its holdings in Air Lease by 13.3% in the 4th quarter. Deutsche Bank AG now owns 6,408 shares of the transportation company's stock valued at $309,000 after acquiring an additional 754 shares during the last quarter. Finally, Engine Capital Management LP acquired a new position in Air Lease in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 94.59% of the company's stock.

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.