Air Lease (NYSE:AL) Reaches New 52-Week High – Here’s What Happened

Air Lease Corporation (NYSE:AL) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $64.40 and last traded at $64.3650, with a volume of 198269 shares traded. The stock had previously closed at $64.33.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AL shares. Zacks Research upgraded shares of Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Barclays reiterated an “equal weight” rating and set a $65.00 price target (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.17.

Air Lease Stock Performance

The firm has a market capitalization of $7.20 billion, a PE ratio of 7.46, a PEG ratio of 0.56 and a beta of 1.15. The stock’s 50 day moving average price is $64.10 and its two-hundred day moving average price is $62.14. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42.

Air Lease (NYSE:AL) last announced its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The firm had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. During the same quarter last year, the business earned $0.82 earnings per share. Air Lease’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current year.

Air Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 4th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, December 4th. Air Lease’s dividend payout ratio (DPR) is presently 10.20%.

Insider Activity

In related news, CFO Gregory B. Willis sold 23,481 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $63.83, for a total value of $1,498,792.23. Following the completion of the transaction, the chief financial officer owned 56,408 shares of the company’s stock, valued at approximately $3,600,522.64. This represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John L. Plueger sold 155,821 shares of Air Lease stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $64.03, for a total value of $9,977,218.63. Following the sale, the chief executive officer owned 725,941 shares in the company, valued at $46,482,002.23. This represents a 17.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 760,593 shares of company stock worth $48,668,588. 6.64% of the stock is owned by corporate insiders.

Institutional Trading of Air Lease

Several institutional investors and hedge funds have recently bought and sold shares of AL. Oak Thistle LLC bought a new stake in shares of Air Lease in the 4th quarter worth approximately $270,000. SG Americas Securities LLC grew its holdings in Air Lease by 2,594.3% during the fourth quarter. SG Americas Securities LLC now owns 222,007 shares of the transportation company’s stock worth $14,260,000 after acquiring an additional 213,767 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Air Lease by 8.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 38,214 shares of the transportation company’s stock worth $2,454,000 after acquiring an additional 2,845 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Air Lease by 11.5% in the 4th quarter. GAMMA Investing LLC now owns 5,070 shares of the transportation company’s stock valued at $326,000 after acquiring an additional 524 shares during the last quarter. Finally, AIA Group Ltd boosted its position in shares of Air Lease by 60.7% during the 3rd quarter. AIA Group Ltd now owns 60,282 shares of the transportation company’s stock valued at $3,837,000 after purchasing an additional 22,775 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Air Lease Company Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale?and?leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.