Air Lease (AL) Downgraded to Sell at ValuEngine

ValuEngine lowered shares of Air Lease (NYSE:AL) from a hold rating to a sell rating in a research note released on Saturday morning.

AL has been the subject of several other research reports. Morgan Stanley decreased their price target on Air Lease from $47.00 to $45.00 and set an equal weight rating for the company in a research note on Wednesday, November 14th. Zacks Investment Research raised Air Lease from a hold rating to a buy rating and set a $43.00 price target for the company in a research note on Tuesday, November 13th. Cowen reissued a buy rating and issued a $54.00 price target on shares of Air Lease in a research note on Friday, November 30th. Seaport Global Securities initiated coverage on Air Lease in a research note on Wednesday, October 10th. They issued a buy rating for the company. Finally, Barclays set a $50.00 price target on Air Lease and gave the stock a buy rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $53.59.

NYSE:AL opened at $33.28 on Friday. Air Lease has a 1 year low of $33.28 and a 1 year high of $50.70. The firm has a market capitalization of $3.46 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.85 and a beta of 1.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.48.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, November 8th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.09. Air Lease had a return on equity of 11.44% and a net margin of 51.81%. The company had revenue of $450.70 million during the quarter, compared to analysts’ expectations of $443.01 million. During the same quarter in the prior year, the business posted $1.50 earnings per share. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Air Lease will post 4.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 9th. Investors of record on Thursday, December 13th will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, December 12th. This represents a $0.52 annualized dividend and a yield of 1.56%. This is a boost from Air Lease’s previous quarterly dividend of $0.10. Air Lease’s dividend payout ratio (DPR) is currently 14.25%.

In other news, insider Steven F. Udvar-Hazy bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The stock was acquired at an average price of $34.29 per share, with a total value of $102,870.00. Following the completion of the purchase, the insider now directly owns 947,682 shares of the company’s stock, valued at approximately $32,496,015.78. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven F. Udvar-Hazy bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were purchased at an average cost of $35.77 per share, with a total value of $71,540.00. Following the purchase, the insider now directly owns 947,682 shares of the company’s stock, valued at $33,898,585.14. The disclosure for this purchase can be found here. Company insiders own 9.32% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Air Lease by 5.4% during the second quarter. FMR LLC now owns 3,490,348 shares of the transportation company’s stock valued at $146,490,000 after purchasing an additional 178,070 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Air Lease by 6.4% during the 3rd quarter. Royce & Associates LP now owns 2,566,314 shares of the transportation company’s stock valued at $117,742,000 after acquiring an additional 155,106 shares during the last quarter. Cannell Peter B & Co. Inc. increased its holdings in shares of Air Lease by 8.5% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 1,557,474 shares of the transportation company’s stock valued at $71,457,000 after acquiring an additional 121,783 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Air Lease by 16.0% during the 2nd quarter. Northern Trust Corp now owns 1,307,980 shares of the transportation company’s stock valued at $54,896,000 after acquiring an additional 180,588 shares during the last quarter. Finally, Vontobel Asset Management Inc. grew its holdings in Air Lease by 0.8% in the 2nd quarter. Vontobel Asset Management Inc. now owns 877,608 shares of the transportation company’s stock valued at $36,835,000 after buying an additional 6,856 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

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Analyst Recommendations for Air Lease (NYSE:AL)

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