Barclays Raises Air Lease (NYSE:AL) Price Target to $55.00

Air Lease (NYSE:AL) had its price target lifted by Barclays from $48.00 to $55.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

A number of other brokerages have also recently commented on AL. BMO Capital Markets increased their price target on shares of Air Lease from $54.00 to $55.00 and gave the company an outperform rating in a research note on Tuesday, February 20th. StockNews.com cut shares of Air Lease from a buy rating to a hold rating in a research note on Friday, March 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $53.25.

Air Lease Stock Up 0.1 %

Shares of AL stock opened at $48.71 on Tuesday. The firm has a fifty day moving average of $45.59 and a 200-day moving average of $41.25. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68. Air Lease has a 12-month low of $33.33 and a 12-month high of $51.77. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 9.46, a P/E/G ratio of 0.66 and a beta of 1.65.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.10 by $0.79. The business had revenue of $716.57 million during the quarter, compared to analysts’ expectations of $672.95 million. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The firm’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 earnings per share. As a group, equities research analysts predict that Air Lease will post 5.64 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Thursday, March 14th. Air Lease’s dividend payout ratio is presently 16.31%.

Insider Buying and Selling

In related news, EVP Alex A. Khatibi sold 11,199 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.37, for a total transaction of $530,496.63. Following the transaction, the executive vice president now directly owns 76,300 shares of the company’s stock, valued at $3,614,331. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Alex A. Khatibi sold 11,199 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.37, for a total transaction of $530,496.63. Following the transaction, the executive vice president now directly owns 76,300 shares of the company’s stock, valued at $3,614,331. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Alex A. Khatibi sold 11,198 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $43.11, for a total transaction of $482,745.78. Following the transaction, the executive vice president now directly owns 87,499 shares in the company, valued at $3,772,081.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,646 shares of company stock valued at $3,705,152. 6.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Air Lease

Several hedge funds have recently bought and sold shares of AL. Belpointe Asset Management LLC bought a new position in Air Lease in the 1st quarter valued at about $28,000. Mather Group LLC. bought a new position in Air Lease in the 1st quarter valued at about $31,000. Neo Ivy Capital Management bought a new position in Air Lease in the 2nd quarter valued at about $31,000. CWM LLC increased its holdings in Air Lease by 296.1% in the 3rd quarter. CWM LLC now owns 911 shares of the transportation company’s stock valued at $36,000 after buying an additional 681 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Air Lease in the 3rd quarter valued at approximately $48,000. 94.59% of the stock is owned by institutional investors.

Air Lease Company Profile

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.