Air Lease (NYSE:AL) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Air Lease (NYSE:AL - Free Report) from a neutral rating to a buy rating in a report released on Tuesday morning, Marketbeat.com reports. The firm currently has $68.00 price target on the transportation company's stock, up from their prior price target of $45.00.

Several other research analysts also recently commented on the company. Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. UBS Group set a $50.00 price target on Air Lease in a report on Friday, March 7th. JPMorgan Chase & Co. lifted their price objective on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Finally, Bank of America lowered shares of Air Lease from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $72.00 to $50.00 in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, Air Lease has an average rating of "Moderate Buy" and an average price target of $57.43.

Air Lease Stock Down 0.4%

AL stock traded down $0.22 during mid-day trading on Tuesday, reaching $56.89. The company had a trading volume of 565,367 shares, compared to its average volume of 782,613. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.33 and a beta of 1.33. Air Lease has a 52 week low of $38.25 and a 52 week high of $59.27. The stock has a 50 day simple moving average of $48.25 and a two-hundred day simple moving average of $47.97. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.27. The business had revenue of $738.28 million during the quarter, compared to analysts' expectations of $709.70 million. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. During the same period last year, the business earned $0.87 earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that Air Lease will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.55%. Air Lease's dividend payout ratio (DPR) is presently 15.38%.

Insiders Place Their Bets

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was 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 trade represents a 6.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.80% of the company's stock.

Institutional Trading of Air Lease

Several large investors have recently modified their holdings of the stock. Alpine Bank Wealth Management bought a new position in Air Lease in the first quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Air Lease in the 4th quarter valued at $28,000. Brooklyn Investment Group increased its stake 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 valued at $28,000 after purchasing an additional 355 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Air Lease during the 4th quarter worth $31,000. Finally, Engine Capital Management LP bought a new stake in shares of Air Lease during the 4th quarter worth $36,000. 94.59% of the stock is 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.