Air Lease (NYSE:AL) Sets New 12-Month Low – Here’s Why

Air Lease Co. (NYSE:AL) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $38.25 and last traded at $44.09, with a volume of 1464228 shares changing hands. The stock had previously closed at $40.46.

Analyst Ratings Changes

A number of brokerages recently commented on AL. Bank of America lowered Air Lease from a “buy” rating to an “underperform” rating and decreased their target price for the company from $72.00 to $50.00 in a research report on Friday, March 7th. UBS Group set a $50.00 target price on shares of Air Lease in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.67.

Air Lease Trading Up 9.0 %

The company has a market cap of $4.93 billion, a PE ratio of 13.25, a PEG ratio of 1.33 and a beta of 1.34. The stock has a 50 day moving average price of $46.62 and a 200 day moving average price of $46.90. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. Sell-side analysts predict that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Tuesday, March 18th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, March 18th. Air Lease’s payout ratio is 26.43%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AL. Aster Capital Management DIFC Ltd bought a new position in shares of Air Lease during the fourth quarter worth $28,000. Wilmington Savings Fund Society FSB bought a new position in shares of Air Lease during the 3rd quarter valued at approximately $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Air Lease in the 4th quarter worth about $31,000. Engine Capital Management LP purchased a new position in Air Lease during the 4th quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its position in Air Lease by 88.1% in the 1st quarter. Versant Capital Management Inc now owns 743 shares of the transportation company’s stock valued at $36,000 after buying an additional 348 shares during the period. 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.