Zacks Research Upgrades Air Lease (NYSE:AL) to “Hold”

Air Lease (NYSE:AL) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Barclays reaffirmed an “equal weight” rating and issued a $65.00 price target (down from $68.00) on shares of Air Lease in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $59.17.

Air Lease Stock Performance

Shares of AL stock opened at $64.19 on Monday. The stock has a fifty day moving average price of $63.98 and a 200 day moving average price of $61.69. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $7.17 billion, a PE ratio of 7.44, a P/E/G ratio of 0.56 and a beta of 1.15. Air Lease has a 1 year low of $38.25 and a 1 year high of $64.40.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The business had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. During the same period in the previous year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Air Lease will post 5.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kishore Korde sold 20,662 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the completion of the transaction, the executive vice president owned 50,091 shares in the company, valued at approximately $3,210,833.10. This trade represents a 29.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven F. Udvar-Hazy sold 19,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $64.12, for a total transaction of $1,218,280.00. Following the completion of the sale, the director owned 1,391,366 shares in the company, valued at $89,214,387.92. The trade was a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 760,593 shares of company stock valued at $48,668,588 over the last quarter. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Air Lease

Several large investors have recently modified their holdings of AL. True Wealth Design LLC raised its position in shares of Air Lease by 2,980.0% during the third quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after purchasing an additional 447 shares during the period. Mather Group LLC. acquired a new stake in Air Lease during the 3rd quarter worth about $29,000. First Horizon Corp purchased a new stake in Air Lease during the third quarter valued at about $31,000. Parkside Financial Bank & Trust increased its position in shares of Air Lease by 273.2% in the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after acquiring an additional 407 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Air Lease by 129.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 298 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

Air Lease Company Profile

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.