AerSale (NASDAQ:ASLE) Lowered to “Hold” at Zacks Investment Research

AerSale (NASDAQ:ASLEGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “AerSale Corp. provides an integrated, diversified aviation aftermarket products and services for aircraft owners and operators to realize savings in the operation, maintenance and monetization of their aircraft, engines and components. The company’s offerings include: Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, Used Serviceable Material sales and internally developed ‘Engineered Solutions’ to enhance aircraft performance. AerSale Corp., formerly known as Monocle Acquisition Corp., is based in NEW YORK. “

AerSale stock traded up $0.44 during trading hours on Tuesday, hitting $14.61. The company had a trading volume of 96,986 shares, compared to its average volume of 113,867. The firm has a market capitalization of $755.16 million, a P/E ratio of 16.79 and a beta of 0.46. The firm’s fifty day moving average is $14.75 and its 200-day moving average is $15.64. AerSale has a fifty-two week low of $10.51 and a fifty-two week high of $24.20.

AerSale (NASDAQ:ASLEGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.31. During the same quarter last year, the business posted $0.23 earnings per share. As a group, analysts expect that AerSale will post 0.86 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Penserra Capital Management LLC bought a new stake in AerSale in the fourth quarter worth approximately $28,000. Citigroup Inc. grew its position in AerSale by 132.8% in the fourth quarter. Citigroup Inc. now owns 2,440 shares of the company’s stock worth $43,000 after acquiring an additional 1,392 shares in the last quarter. Bank of America Corp DE grew its position in AerSale by 192.9% in the second quarter. Bank of America Corp DE now owns 4,317 shares of the company’s stock worth $54,000 after acquiring an additional 2,843 shares in the last quarter. Bedel Financial Consulting Inc. bought a new stake in AerSale in the fourth quarter worth approximately $62,000. Finally, Denali Advisors LLC bought a new stake in AerSale in the fourth quarter worth approximately $67,000. 69.03% of the stock is owned by institutional investors.

AerSale Company Profile (Get Rating)

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).

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