Analysts Set Air Lease Corporation (NYSE:AL) Target Price at $59.17

by · The Markets Daily

Shares of Air Lease Corporation (NYSE:AL – Get Free Report) have received an average rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $59.1667.

A number of research firms have weighed in on AL. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Zacks Research upgraded Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Barclays reaffirmed an “equal weight” rating and set a $65.00 price objective (down previously from $68.00) on shares of Air Lease in a research report on Tuesday, January 6th.

Read Our Latest Stock Analysis on AL

Insider Transactions at Air Lease

In related news, Director Steven F. Udvar-Hazy sold 64,000 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $64.02, for a total transaction of $4,097,280.00. Following the transaction, the director directly owned 74,000 shares of the company’s stock, valued at $4,737,480. This represents a 46.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kishore Korde sold 30,160 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $63.90, for a total value of $1,927,224.00. Following the completion of the sale, the executive vice president owned 79,263 shares of the company’s stock, valued at approximately $5,064,905.70. This trade represents a 27.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 692,185 shares of company stock valued at $44,301,155 in the last 90 days. Insiders own 6.64% of the company’s stock.

Hedge Funds Weigh In On Air Lease

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management boosted its stake in Air Lease by 221.4% in the 4th quarter. Picton Mahoney Asset Management now owns 642,725 shares of the transportation company’s stock worth $41,282,000 after purchasing an additional 442,725 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Air Lease by 10.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 56,878 shares of the transportation company’s stock worth $3,653,000 after buying an additional 5,417 shares during the period. Deutsche Bank AG grew its holdings in shares of Air Lease by 5.7% during the fourth quarter. Deutsche Bank AG now owns 10,144 shares of the transportation company’s stock valued at $652,000 after buying an additional 547 shares during the last quarter. Waddell & Associates LLC acquired a new position in shares of Air Lease in the 4th quarter valued at $209,000. Finally, Cerity Partners LLC increased its position in shares of Air Lease by 21.3% in the 4th quarter. Cerity Partners LLC now owns 96,398 shares of the transportation company’s stock valued at $6,192,000 after acquiring an additional 16,952 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Price Performance

AL opened at $64.70 on Friday. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 0.56 and a beta of 1.13. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. Air Lease has a 12-month low of $38.25 and a 12-month high of $64.74. The business’s fifty day simple moving average is $64.29 and its 200-day simple moving average is $62.79.

Air Lease Company Profile

(Get Free Report)

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.

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