AerSale (NASDAQ:ASLE) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded AerSale from “hold” to “strong sell,” while other analysts also issued negative or neutral ratings. The stock has an average “Reduce” rating and an average price target of $6.83.
• AerSale reported weaker-than-expected quarterly results, posting an adjusted loss of $0.09 per share versus a $0.06 consensus profit estimate, while revenue of $70.93 million missed expectations of $81.24 million.
• The stock opened at $5.63, near its 52-week low of $5.52, with a market capitalization of approximately $268.7 million. Insiders sold 21,316 shares worth $135,160 over the past three months, though institutional investors own 69.48% of the company.

AerSale (NASDAQ:ASLE - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research analysts have also commented on ASLE. Wall Street Zen lowered AerSale from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings reissued a "sell (d)" rating on shares of AerSale in a research note on Wednesday, August 12th. B. Riley Financial assumed coverage on shares of AerSale in a report on Monday, June 29th. They issued a "neutral" rating and a $7.50 price target on the stock. Finally, Royal Bank Of Canada dropped their price objective on shares of AerSale from $8.00 to $7.00 and set a "sector perform" rating for the company in a report on Monday, August 10th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, AerSale currently has an average rating of "Reduce" and an average price target of $6.83.

AerSale Stock Performance

AerSale stock opened at $5.63 on Thursday. AerSale has a 1-year low of $5.52 and a 1-year high of $8.91. The company has a current ratio of 3.27, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $268.72 million, a PE ratio of -70.38 and a beta of 0.28. The firm's 50 day simple moving average is $6.10 and its 200 day simple moving average is $6.47.

AerSale (NASDAQ:ASLE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). The firm had revenue of $70.93 million during the quarter, compared to the consensus estimate of $81.24 million. AerSale had a negative net margin of 1.23% and a negative return on equity of 0.27%. As a group, analysts expect that AerSale will post 0.03 earnings per share for the current fiscal year.

Insider Activity at AerSale

In other AerSale news, insider Gary Edmund Jones sold 7,491 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total value of $47,492.94. Following the completion of the sale, the insider owned 162,405 shares of the company's stock, valued at $1,029,647.70. This represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Martin Garmendia sold 6,094 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total transaction of $38,635.96. Following the transaction, the insider owned 183,377 shares in the company, valued at $1,162,610.18. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 21,316 shares of company stock valued at $135,160. Corporate insiders own 20.10% of the company's stock.

Hedge Funds Weigh In On AerSale

Several institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC raised its position in AerSale by 100.7% in the 4th quarter. CWM LLC now owns 6,393 shares of the company's stock worth $45,000 after purchasing an additional 3,208 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in AerSale by 39.0% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company's stock valued at $55,000 after buying an additional 2,477 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of AerSale during the second quarter valued at about $65,000. KLCM Advisors Inc. purchased a new position in shares of AerSale in the fourth quarter worth about $71,000. Finally, HRT Financial LP purchased a new position in shares of AerSale in the fourth quarter worth about $75,000. Institutional investors own 69.48% of the company's stock.

AerSale Company Profile

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.

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