Air Lease (NYSE:AL) Given New $56.00 Price Target at TD Cowen

Air Lease (NYSE:AL) had its price objective reduced by TD Cowen from $59.00 to $56.00 in a research report sent to investors on Tuesday, MarketBeat reports. TD Cowen currently has a buy rating on the transportation company’s stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Air Lease from $54.00 to $55.00 and gave the company an outperform rating in a research report on Tuesday, February 20th. StockNews.com lowered shares of Air Lease from a buy rating to a hold rating in a report on Friday, March 29th. Finally, Barclays raised their target price on Air Lease from $48.00 to $55.00 and gave the company an overweight rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Lease currently has a consensus rating of Moderate Buy and an average price target of $53.80.

Air Lease Stock Performance

Shares of Air Lease stock opened at $47.80 on Tuesday. The business has a 50-day moving average price of $48.09 and a two-hundred day moving average price of $42.61. Air Lease has a 1-year low of $33.33 and a 1-year high of $52.31. 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 has a market cap of $5.32 billion, a P/E ratio of 9.28, a PEG ratio of 0.64 and a beta of 1.63.

Air Lease (NYSE:AL) last released its earnings results on Monday, May 6th. The transportation company reported $0.87 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.43). Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The business had revenue of $663.31 million for the quarter, compared to analyst estimates of $677.26 million. During the same period in the prior year, the business earned $1.06 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts anticipate that Air Lease will post 6.22 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, June 4th. Air Lease’s dividend payout ratio is currently 16.31%.

Insider Buying and Selling

In other news, EVP Alex A. Khatibi sold 11,199 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.37, for a total value of $530,496.63. Following the transaction, the executive vice president now owns 76,300 shares in the company, valued at $3,614,331. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Air Lease news, CEO John L. Plueger sold 28,515 shares of Air Lease stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $40.06, for a total transaction of $1,142,310.90. Following the transaction, the chief executive officer now owns 808,842 shares of the company’s stock, valued at approximately $32,402,210.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alex A. Khatibi sold 11,199 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.37, for a total value of $530,496.63. Following the completion of the transaction, the executive vice president now owns 76,300 shares in the company, valued at approximately $3,614,331. The disclosure for this sale can be found here. Insiders have sold 89,646 shares of company stock worth $3,705,152 in the last quarter. Insiders own 6.64% of the company’s stock.

Institutional Trading of Air Lease

A number of hedge funds have recently bought and sold shares of the business. Mather Group LLC. purchased a new stake in shares of Air Lease during the 1st quarter valued at $31,000. Neo Ivy Capital Management purchased a new stake in Air Lease during the third quarter worth about $40,000. Quantbot Technologies LP bought a new stake in Air Lease in the third quarter worth about $48,000. Hexagon Capital Partners LLC boosted its stake in Air Lease by 1,341.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Air Lease during the 4th quarter valued at approximately $77,000. 94.59% of the stock is currently owned by institutional investors.

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.