Air Lease (NYSE:AL) Sets New 12-Month High at $51.40

Air Lease Co. (NYSE:AL)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $51.40 and last traded at $51.22, with a volume of 46452 shares trading hands. The stock had previously closed at $50.76.

Analysts Set New Price Targets

Several research analysts have recently commented on AL shares. StockNews.com upgraded Air Lease from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. BMO Capital Markets lifted their target price on shares of Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, Barclays increased their price target on shares of Air Lease from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

Air Lease Price Performance

The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.76 and a beta of 1.62. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68. The company’s fifty day moving average is $43.12 and its two-hundred day moving average is $40.13.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $672.95 million. During the same period last year, the business posted $1.21 EPS. Air Lease’s revenue for the quarter was up 19.1% on a year-over-year basis. As a group, research analysts predict that Air Lease Co. will post 5.64 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.62%. Air Lease’s dividend payout ratio (DPR) is currently 16.31%.

Insider Transactions at Air Lease

In related news, EVP Carol Hyland Forsyte sold 3,046 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the sale, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Air Lease news, EVP Alex A. Khatibi sold 11,198 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $43.11, for a total transaction of $482,745.78. Following the sale, the executive vice president now directly owns 87,499 shares in the company, valued at $3,772,081.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Carol Hyland Forsyte sold 3,046 shares of Air Lease stock in a transaction 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 directly owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,646 shares of company stock valued at $3,705,152. Corporate insiders own 6.64% of the company’s stock.

Institutional Trading of Air Lease

Several institutional investors and hedge funds have recently modified their holdings of AL. Quadrature Capital Ltd lifted its stake in Air Lease by 350.7% in the 4th quarter. Quadrature Capital Ltd now owns 25,551 shares of the transportation company’s stock valued at $1,072,000 after buying an additional 19,882 shares in the last quarter. Wellington Management Group LLP increased its position in Air Lease by 44.3% during the 4th quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock worth $192,260,000 after purchasing an additional 1,407,902 shares in the last quarter. Neo Ivy Capital Management raised its stake in Air Lease by 32.4% in the 4th quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 330 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Air Lease by 59.6% in the 4th quarter. GSA Capital Partners LLP now owns 18,559 shares of the transportation company’s stock valued at $778,000 after purchasing an additional 6,930 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Air Lease by 2.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 48,298 shares of the transportation company’s stock valued at $2,026,000 after purchasing an additional 1,173 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

About Air Lease

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.