AerSale (NASDAQ:ASLE) Price Target Cut to $6.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut AerSale’s price target from $7.00 to $6.00 while keeping a “sector perform” rating; the new target implies 18.58% upside from the prior close.
• Analyst sentiment is broadly cautious: MarketBeat reports an average “Reduce” rating and a consensus price target of $5.75, with other firms recently lowering targets or issuing sell ratings.
• AerSale reported quarterly EPS of -$0.02, missing the $0.11 consensus estimate, while revenue of $91.56 million slightly exceeded forecasts.

AerSale (NASDAQ:ASLE - Get Free Report) had its price target cut by analysts at Royal Bank Of Canada from $7.00 to $6.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 18.58% from the stock's previous close.

Several other research firms have also commented on ASLE. B. Riley Financial lowered their target price on AerSale from $6.00 to $5.50 and set a "neutral" rating for the company in a report on Monday. Wall Street Zen cut shares of AerSale from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings reiterated a "sell (d)" rating on shares of AerSale in a research report on Wednesday, August 12th. Finally, Zacks Research raised shares of AerSale from a "strong sell" rating to a "hold" rating in a research note on Friday, October 9th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $5.75.

AerSale Stock Performance

NASDAQ ASLE remained flat at $5.06 during trading hours on Tuesday. 61,402 shares of the company's stock were exchanged, compared to its average volume of 366,455. The stock has a market capitalization of $241.51 million, a PE ratio of -12.95 and a beta of 0.23. The stock has a 50 day simple moving average of $5.10 and a 200 day simple moving average of $6.19. The company has a quick ratio of 0.76, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. AerSale has a 12-month low of $4.52 and a 12-month high of $7.93.

AerSale (NASDAQ:ASLE - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.13). The firm had revenue of $91.56 million during the quarter, compared to analyst estimates of $91.22 million. AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%. On average, equities research analysts anticipate that AerSale will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of AerSale in the 2nd quarter worth approximately $17,358,000. Raffles Associates LP acquired a new stake in shares of AerSale in the second quarter worth $2,907,000. Bank of New York Mellon Corp purchased a new position in AerSale during the 2nd quarter valued at about $970,000. Dimensional Fund Advisors LP grew its position in AerSale by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company's stock valued at $8,691,000 after purchasing an additional 110,360 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in AerSale in the 2nd quarter valued at approximately $792,000. Institutional investors own 69.48% of the company's stock.

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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