Truist Financial Cuts AerSale (NASDAQ:ASLE) Price Target to $6.00

AerSale (NASDAQ:ASLE) had its price target dropped by analysts at Truist Financial from $7.00 to $6.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential downside of 3.46% from the company’s current price.

Several other equities analysts have also issued reports on ASLE. Wall Street Zen lowered AerSale from a “strong-buy” rating to a “buy” rating in a report on Monday. Zacks Research downgraded AerSale from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of AerSale in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their target price on shares of AerSale from $7.00 to $8.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.00.

AerSale Trading Up 1.2%

AerSale stock traded up $0.08 during midday trading on Monday, reaching $6.22. 99,549 shares of the stock traded hands, compared to its average volume of 424,840. The firm has a market cap of $293.24 million, a PE ratio of 47.73 and a beta of 0.24. AerSale has a 12-month low of $5.55 and a 12-month high of $9.12. The company has a current ratio of 3.87, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $7.95 and a two-hundred day simple moving average of $7.08.

AerSale (NASDAQ:ASLE) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The company had revenue of $71.19 million for the quarter, compared to analysts’ expectations of $93.86 million. AerSale had a return on equity of 2.09% and a net margin of 1.73%. Research analysts expect that AerSale will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of AerSale

Hedge funds have recently added to or reduced their stakes in the business. M3F Inc. raised its stake in AerSale by 11.3% during the second quarter. M3F Inc. now owns 3,472,920 shares of the company’s stock worth $20,872,000 after purchasing an additional 353,222 shares during the period. Vanguard Group Inc. raised its holdings in shares of AerSale by 29.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,965,792 shares of the company’s stock worth $16,100,000 after purchasing an additional 444,954 shares during the period. Private Management Group Inc. lifted its stake in shares of AerSale by 7.3% in the 1st quarter. Private Management Group Inc. now owns 1,191,512 shares of the company’s stock valued at $8,924,000 after purchasing an additional 81,378 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of AerSale by 60.7% during the 2nd quarter. Acadian Asset Management LLC now owns 940,582 shares of the company’s stock worth $5,646,000 after purchasing an additional 355,178 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in AerSale by 4.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 893,850 shares of the company’s stock valued at $6,695,000 after buying an additional 34,880 shares during the period. 69.48% of the stock is owned by institutional investors and hedge funds.

About AerSale

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).