AerSale (NASDAQ:ASLE) Given New $6.00 Price Target at B. Riley Financial

Key Points

• B. Riley Financial cut AerSale’s price target from $7.50 to $6.00 while maintaining a “neutral” rating, implying 27.12% upside from the previous close.
• Analyst sentiment remains cautious: AerSale has an average “Reduce” rating and a consensus price target of $6.33, with four Hold ratings and one Sell rating.
• AerSale opened at $4.72 and recently reported a quarterly loss of $0.09 per share on revenue of $70.93 million, missing analysts’ expectations for both earnings and revenue.

AerSale (NASDAQ:ASLE - Get Free Report) had its target price dropped by B. Riley Financial from $7.50 to $6.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. B. Riley Financial's price target points to a potential upside of 27.12% from the company's previous close.

Several other equities analysts have also issued reports on ASLE. Zacks Research raised AerSale from a "strong sell" rating to a "hold" rating in a report on Friday, October 9th. Weiss Ratings reissued a "sell (d)" rating on shares of AerSale in a report on Wednesday, August 12th. Royal Bank Of Canada decreased their target price on AerSale from $8.00 to $7.00 and set a "sector perform" rating for the company in a research report on Monday, August 10th. Finally, Wall Street Zen downgraded AerSale from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $6.33.

AerSale Stock Performance

NASDAQ:ASLE opened at $4.72 on Wednesday. AerSale has a fifty-two week low of $4.54 and a fifty-two week high of $7.93. The company has a 50 day moving average price of $5.25 and a 200 day moving average price of $6.31. The stock has a market capitalization of $225.27 million, a P/E ratio of -59.00 and a beta of 0.37.

AerSale (NASDAQ:ASLE - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.15). The business had revenue of $70.93 million for the quarter, compared to the consensus estimate of $81.24 million. Research analysts forecast that AerSale will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AerSale

Hedge funds have recently bought and sold shares of the company. M3F Inc. increased its position in AerSale by 20.0% during the first quarter. M3F Inc. now owns 3,983,632 shares of the company's stock worth $24,778,000 after buying an additional 664,487 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of AerSale during the second quarter valued at $17,358,000. Dimensional Fund Advisors LP increased its position in AerSale by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company's stock worth $8,691,000 after purchasing an additional 110,360 shares in the last quarter. Raffles Associates LP acquired a new position in AerSale in the 2nd quarter valued at about $2,907,000. Finally, Bank of New York Mellon Corp purchased a new position in AerSale in the 2nd quarter valued at about $970,000. 69.48% of the stock is owned by hedge funds and other institutional investors.

AerSale Company Profile

AerSale Corporation NASDAQ: ASLE is an aviation aftermarket company that provides products and services to commercial airlines, aircraft leasing companies, original equipment manufacturers, government agencies and other aviation customers. The company focuses primarily on commercial aircraft and engines, including aircraft sales and leasing support, component sourcing, and related asset management services.

AerSale also operates maintenance, repair and overhaul capabilities for aircraft, engines and components.

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