Air Lease Corp. (AL) Rating Increased to Buy at TheStreet
Air Lease Corp. (NYSE:AL) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
A number of other equities research analysts have also recently commented on AL. FBR & Co lowered their target price on Air Lease Corp. from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Friday, August 5th. Zacks Investment Research cut Air Lease Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Stephens initiated coverage on Air Lease Corp. in a research note on Tuesday, November 1st. They set an “overweight” rating and a $48.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $45.94.
Shares of Air Lease Corp. (NYSE:AL) opened at 35.86 on Tuesday. Air Lease Corp. has a 52-week low of $22.47 and a 52-week high of $36.42. The company’s 50-day moving average is $31.95 and its 200 day moving average is $29.30. The company has a market cap of $3.69 billion, a PE ratio of 10.89 and a beta of 1.54.
Air Lease Corp. (NYSE:AL) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. Air Lease Corp. had a return on equity of 14.83% and a net margin of 26.09%. The business had revenue of $355.10 million for the quarter, compared to analysts’ expectations of $356.47 million. During the same period last year, the business earned $0.71 EPS. The business’s revenue was up 13.4% on a year-over-year basis. On average, analysts anticipate that Air Lease Corp. will post $3.42 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 9th. Shareholders of record on Monday, December 12th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Thursday, December 8th. This is a positive change from Air Lease Corp.’s previous quarterly dividend of $0.05. Air Lease Corp.’s payout ratio is presently 6.08%.
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In other Air Lease Corp. news, Director Robert A. Milton sold 30,000 shares of Air Lease Corp. stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $31.73, for a total transaction of $951,900.00. Following the completion of the transaction, the director now owns 30,889 shares of the company’s stock, valued at approximately $980,107.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.45% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Air Lease Corp. by 3.2% in the first quarter. Geode Capital Management LLC now owns 581,848 shares of the company’s stock valued at $18,688,000 after buying an additional 17,844 shares during the last quarter. Quotient Investors LLC acquired a new position in shares of Air Lease Corp. during the second quarter valued at approximately $495,000. BTR Capital Management Inc. raised its position in shares of Air Lease Corp. by 0.4% in the second quarter. BTR Capital Management Inc. now owns 253,500 shares of the company’s stock valued at $6,789,000 after buying an additional 1,110 shares during the last quarter. Highland Capital Management LLC acquired a new position in shares of Air Lease Corp. during the second quarter valued at approximately $1,543,000. Finally, Nordea Investment Management AB raised its position in shares of Air Lease Corp. by 359.3% in the second quarter. Nordea Investment Management AB now owns 22,679 shares of the company’s stock valued at $607,000 after buying an additional 17,741 shares during the last quarter. 90.54% of the stock is owned by institutional investors.
About Air Lease Corp.
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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