TD Cowen Downgrades Air Lease (NYSE:AL) to Hold

Key Points

• TD Cowen has downgraded Air Lease from a "strong-buy" rating to a "hold" rating, reflecting a shift in analyst sentiment regarding the company's stock.
• Despite the downgrade, Barclays has increased its target price for Air Lease shares to $67.00, indicating some continued confidence in the stock's potential.
• Currently, Air Lease has a consensus rating of "Hold" among analysts, with a price target of approximately $60.29.

Air Lease (NYSE:AL - Get Free Report) was downgraded by investment analysts at TD Cowen from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Barclays reiterated an "overweight" rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and raised their target price for the company from $45.00 to $68.00 in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft lowered Air Lease from a "buy" rating to a "hold" rating and set a $65.00 target price for the company. in a research note on Wednesday, September 3rd. Cowen lowered Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $60.29.

Air Lease Stock Performance

Shares of AL stock traded down $0.03 during trading hours on Wednesday, reaching $63.68. 2,144,623 shares of the company's stock were exchanged, compared to its average volume of 985,989. Air Lease has a fifty-two week low of $38.25 and a fifty-two week high of $64.30. The stock has a market capitalization of $7.12 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.66 and a beta of 1.37. The business has a fifty day moving average price of $58.42 and a 200-day moving average price of $53.12. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.07. The business had revenue of $731.70 million for the quarter, compared to the consensus estimate of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $1.23 earnings per share. Analysts predict that Air Lease will post 5.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Air Lease news, EVP David Beker sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $55.44, for a total value of $110,880.00. Following the sale, the executive vice president owned 19,770 shares in the company, valued at approximately $1,096,048.80. The trade was a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AL. AQR Capital Management LLC increased its position in shares of Air Lease by 3.7% in the fourth quarter. AQR Capital Management LLC now owns 128,843 shares of the transportation company's stock worth $6,212,000 after purchasing an additional 4,576 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Air Lease in the fourth quarter worth $202,000. BNP Paribas Financial Markets increased its position in shares of Air Lease by 46.0% in the fourth quarter. BNP Paribas Financial Markets now owns 5,063 shares of the transportation company's stock worth $244,000 after purchasing an additional 1,595 shares during the period. Captrust Financial Advisors increased its position in shares of Air Lease by 5.3% in the fourth quarter. Captrust Financial Advisors now owns 11,506 shares of the transportation company's stock worth $555,000 after purchasing an additional 582 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Air Lease by 6.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,456,910 shares of the transportation company's stock worth $70,238,000 after purchasing an additional 90,120 shares during the period. Institutional investors own 94.59% of the company's stock.

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.