AerSale Corporation (NASDAQ:ASLE) Stock Has Average Price Target of $6.83 According to Analysts

Key Points

• Analysts have a cautious outlook on AerSale: Five firms give the stock an average “Reduce” rating, including two sells and three holds, with an average 1-year price target of $6.83.
• Recent operating results fell short of expectations. AerSale reported a quarterly loss of $0.09 per share versus a projected $0.06 profit, while revenue of $70.93 million missed the $81.24 million consensus estimate.
• The stock opened at $4.97, near its 1-year low of $4.89, and has declined below its 50-day and 200-day moving averages. Institutional investors own approximately 69.48% of the company.

Shares of AerSale Corporation (NASDAQ:ASLE - Get Free Report) have been assigned an average recommendation of "Reduce" from the five research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $6.83.

A number of research analysts have recently commented on ASLE shares. Zacks Research lowered AerSale from a "hold" rating to a "strong sell" rating in a report on Thursday, August 27th. Royal Bank Of Canada reduced their target price on AerSale from $8.00 to $7.00 and set a "sector perform" rating for the company in a report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AerSale in a research report on Wednesday, August 12th. B. Riley Financial initiated coverage on AerSale in a report on Monday, June 29th. They set a "neutral" rating and a $7.50 price target on the stock. Finally, Wall Street Zen downgraded AerSale from a "hold" rating to a "sell" rating in a report on Saturday, August 15th.

AerSale Stock Up 0.4%

AerSale stock opened at $4.97 on Wednesday. The company has a current ratio of 3.27, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. AerSale has a 1-year low of $4.89 and a 1-year high of $8.58. The firm's fifty day simple moving average is $5.63 and its 200-day simple moving average is $6.14. The company has a market capitalization of $237.22 million, a P/E ratio of -62.12 and a beta of 0.37.

AerSale (NASDAQ:ASLE - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $81.24 million. AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%. Sell-side analysts forecast that AerSale will post 0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in AerSale by 39.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company's stock worth $55,000 after purchasing an additional 2,477 shares in the last quarter. Bank of America Corp DE increased its stake in shares of AerSale by 15.6% in the first quarter. Bank of America Corp DE now owns 33,712 shares of the company's stock valued at $210,000 after buying an additional 4,545 shares in the last quarter. State of Wyoming increased its stake in shares of AerSale by 102.5% in the first quarter. State of Wyoming now owns 18,207 shares of the company's stock valued at $113,000 after buying an additional 9,218 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of AerSale in the second quarter valued at $65,000. Finally, Squarepoint Ops LLC raised its holdings in shares of AerSale by 9.9% in the second quarter. Squarepoint Ops LLC now owns 148,674 shares of the company's stock valued at $940,000 after buying an additional 13,417 shares during the last quarter. 69.48% of the stock is currently owned by institutional investors and hedge funds.

About AerSale

AerSale Corporation is an aviation aftermarket company that provides aircraft, engine and component services to commercial airlines, lessors, government agencies and other aviation operators. The company sources and sells used serviceable material, aircraft and engines, while also providing maintenance, repair and overhaul services for airframes, engines and components.

AerSale's business includes the sale and lease of whole aircraft and engines, aircraft disassembly and parts distribution, and technical support services.

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