AerSale (NASDAQ:ASLE) Lifted to Buy at Zacks Investment Research

AerSale (NASDAQ:ASLEGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm presently has a $16.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.84% from the company’s current price.

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. “

Shares of AerSale stock traded up $0.09 on Wednesday, hitting $14.70. 51,104 shares of the company’s stock traded hands, compared to its average volume of 113,295. AerSale has a one year low of $10.51 and a one year high of $24.20. The company has a fifty day moving average of $14.73 and a two-hundred day moving average of $15.63. The company has a market capitalization of $759.81 million, a price-to-earnings ratio of 16.90 and a beta of 0.46.

AerSale (NASDAQ:ASLEGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.31. During the same period in the prior 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.

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