Air Lease (NYSE:AL) Reaches New 52-Week High at $52.31

Air Lease Co. (NYSE:AL - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $52.31 and last traded at $52.05, with a volume of 49883 shares changing hands. The stock had previously closed at $51.56.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets raised their target price on Air Lease from $54.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, February 20th. Barclays raised their target price on Air Lease from $48.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, April 16th. Finally, StockNews.com cut Air Lease from a "buy" rating to a "hold" rating in a report on Friday, March 29th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.25.

Air Lease Stock Performance

The company has a market cap of $5.75 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 0.70 and a beta of 1.65. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50-day moving average price of $46.42 and a 200 day moving average price of $41.70.

Air Lease (NYSE:AL - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.79. Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The company had revenue of $716.57 million for the quarter, compared to analyst estimates of $672.95 million. During the same quarter last year, the firm posted $1.21 earnings per share. Air Lease's revenue was up 19.1% compared to the same quarter last year. As a group, analysts anticipate that Air Lease Co. will post 5.64 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Thursday, March 14th. Air Lease's dividend payout ratio is presently 16.31%.

Insider Activity at Air Lease

In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total transaction of $121,900.92. Following the transaction, the executive vice president now owns 72,073 shares of the company's stock, valued at approximately $2,884,361.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Air Lease news, EVP Alex A. Khatibi sold 11,199 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.37, for a total transaction of $530,496.63. Following the transaction, the executive vice president now owns 76,300 shares of the company's stock, valued at approximately $3,614,331. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Carol Hyland Forsyte sold 3,046 shares of Air Lease stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total value of $121,900.92. Following the transaction, the executive vice president now owns 72,073 shares of the company's stock, valued at $2,884,361.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,646 shares of company stock valued at $3,705,152. 6.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AL. CWM LLC boosted its stake in shares of Air Lease by 296.1% during the 3rd quarter. CWM LLC now owns 911 shares of the transportation company's stock worth $36,000 after acquiring an additional 681 shares during the period. Copeland Capital Management LLC boosted its stake in shares of Air Lease by 0.3% during the 3rd quarter. Copeland Capital Management LLC now owns 1,706,579 shares of the transportation company's stock worth $67,256,000 after acquiring an additional 4,715 shares during the period. Raymond James & Associates boosted its stake in shares of Air Lease by 1.4% during the 3rd quarter. Raymond James & Associates now owns 362,943 shares of the transportation company's stock worth $14,304,000 after acquiring an additional 4,971 shares during the period. Reinhart Partners LLC. boosted its stake in Air Lease by 3.5% in the 3rd quarter. Reinhart Partners LLC. now owns 1,258,240 shares of the transportation company's stock valued at $49,587,000 after purchasing an additional 42,157 shares during the period. Finally, Redmont Wealth Advisors LLC boosted its stake in Air Lease by 8.8% in the 3rd quarter. Redmont Wealth Advisors LLC now owns 13,833 shares of the transportation company's stock valued at $545,000 after purchasing an additional 1,118 shares during the period. 94.59% of the stock is currently owned by institutional investors.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.