AerSale Corporation (NASDAQ:ASLE) Stock Has Consensus Target Price of $6.33

Key Points

• Analysts are cautious on AerSale: Five brokerages give the stock an average “Reduce” rating, with one sell and four hold ratings. The consensus 12-month price target is $6.33, compared with a recent share price of $4.83.
• Recent analyst actions were largely negative, including target-price cuts by B. Riley Financial to $6.00 and Royal Bank of Canada to $7.00; AerSale shares remain near their 12-month low of $4.54.
• Quarterly results fell short of expectations: AerSale reported a $0.09 per-share loss versus the anticipated $0.06 profit and revenue of $70.93 million versus estimates of $81.24 million. Institutional investors own approximately 69.48% of the company.

Shares of AerSale Corporation (NASDAQ:ASLE - Get Free Report) have been given an average recommendation of "Reduce" by the five brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $6.33.

A number of equities research analysts recently issued reports on the company. Zacks Research raised AerSale from a "strong sell" rating to a "hold" rating in a research report on Friday, October 9th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AerSale in a report on Wednesday, August 12th. Wall Street Zen downgraded AerSale from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. B. Riley Financial cut their target price on AerSale from $7.50 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Royal Bank Of Canada reduced their target price on AerSale from $8.00 to $7.00 and set a "sector perform" rating on the stock in a report on Monday, August 10th.

AerSale Price Performance

Shares of AerSale stock opened at $4.83 on Friday. The company has a quick ratio of 0.76, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $230.54 million, a price-to-earnings ratio of -60.38 and a beta of 0.37. AerSale has a twelve month low of $4.54 and a twelve month high of $7.93. The company has a 50-day simple moving average of $5.19 and a two-hundred day simple moving average of $6.27.

AerSale (NASDAQ:ASLE - Get Free Report) last announced 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). AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%. The business had revenue of $70.93 million for the quarter, compared to analyst estimates of $81.24 million. Analysts forecast that AerSale will post 0.03 EPS for the current year.

Institutional Investors Weigh In On AerSale

Several institutional investors and hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. grew its stake 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 worth $55,000 after buying an additional 2,477 shares in the last quarter. Bank of America Corp DE raised its position in shares of AerSale by 15.6% in the 1st 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 raised its position in shares of AerSale by 102.5% in the 1st 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 position in shares of AerSale in the 2nd quarter valued at approximately $65,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of AerSale by 9.9% during the 2nd quarter. Squarepoint Ops LLC now owns 148,674 shares of the company's stock worth $940,000 after acquiring an additional 13,417 shares during the period. 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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