Shares of Air Lease Corporation (NYSE:AL) have been given a consensus recommendation of “Buy” by the twelve analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $49.75.

Several equities research analysts have recently issued reports on the stock. Bank of America Corporation cut shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research report on Wednesday, August 9th. Royal Bank Of Canada lifted their price objective on shares of Air Lease Corporation from $79.00 to $80.00 and gave the company a “top pick” rating in a research report on Friday, September 29th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub cut shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Cowen and Company lifted their price objective on shares of Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, August 4th.

In other Air Lease Corporation news, EVP Marc H. Baer sold 7,562 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $39.72, for a total transaction of $300,362.64. Following the transaction, the executive vice president now owns 132,001 shares in the company, valued at $5,243,079.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex A. Khatibi sold 11,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $40.00, for a total transaction of $440,000.00. Following the transaction, the executive vice president now owns 142,786 shares in the company, valued at approximately $5,711,440. The disclosure for this sale can be found here. Insiders sold 32,562 shares of company stock worth $1,342,363 in the last 90 days. 9.76% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Boston Partners increased its position in Air Lease Corporation by 70.7% during the second quarter. Boston Partners now owns 8,494,727 shares of the transportation company’s stock valued at $317,363,000 after acquiring an additional 3,519,693 shares during the last quarter. Vanguard Group Inc. increased its position in Air Lease Corporation by 1.3% during the second quarter. Vanguard Group Inc. now owns 7,550,212 shares of the transportation company’s stock valued at $282,076,000 after acquiring an additional 95,981 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Air Lease Corporation by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,591,941 shares of the transportation company’s stock valued at $177,938,000 after acquiring an additional 197,806 shares during the last quarter. Capital Research Global Investors increased its position in Air Lease Corporation by 3.3% during the second quarter. Capital Research Global Investors now owns 4,208,000 shares of the transportation company’s stock valued at $157,211,000 after acquiring an additional 136,000 shares during the last quarter. Finally, BlackRock Inc. increased its position in Air Lease Corporation by 14,924.1% during the first quarter. BlackRock Inc. now owns 3,851,727 shares of the transportation company’s stock valued at $149,254,000 after acquiring an additional 3,826,090 shares during the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.

Air Lease Corporation (AL) traded up 0.63% during mid-day trading on Wednesday, reaching $44.48. 365,191 shares of the company were exchanged. The stock has a 50 day moving average of $41.24 and a 200-day moving average of $38.97. Air Lease Corporation has a one year low of $28.16 and a one year high of $44.59. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 12.95 and a beta of 1.79.

Air Lease Corporation (NYSE:AL) last released its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. The firm had revenue of $380.59 million for the quarter, compared to analysts’ expectations of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 earnings per share. On average, equities analysts expect that Air Lease Corporation will post $3.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Wednesday, September 13th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, September 12th. Air Lease Corporation’s dividend payout ratio is presently 8.70%.

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Air Lease Corporation Company Profile

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.

Analyst Recommendations for Air Lease Corporation (NYSE:AL)

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