AerSale (NASDAQ:ASLE) Stock Rating Upgraded by Zacks Research

AerSale (NASDAQ:ASLE) was upgraded by analysts at Zacks Research to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on the company. Weiss Ratings downgraded AerSale from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, May 15th. B. Riley Financial initiated coverage on shares of AerSale in a research report on Monday. They set a “neutral” rating and a $7.50 price target on the stock. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $7.17.

AerSale Stock Performance

NASDAQ:ASLE opened at $6.57 on Wednesday. The stock’s 50-day simple moving average is $6.49 and its 200 day simple moving average is $6.85. AerSale has a twelve month low of $5.56 and a twelve month high of $9.12. The company has a quick ratio of 0.89, a current ratio of 3.74 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $310.45 million, a PE ratio of 29.86 and a beta of 0.27.

Insiders Place Their Bets

In other AerSale news, insider Frederick Craig Wright sold 4,182 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total value of $26,513.88. Following the transaction, the insider owned 213,531 shares in the company, valued at approximately $1,353,786.54. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Martin Garmendia sold 6,094 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $38,635.96. Following the sale, the insider owned 183,377 shares of the company’s stock, valued at approximately $1,162,610.18. This represents a 3.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 21,239 shares of company stock worth $134,655. Corporate insiders own 20.10% of the company’s stock.

Institutional Trading of AerSale

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in shares of AerSale by 15.6% in the 1st quarter. Bank of America Corp DE now owns 33,712 shares of the company’s stock worth $210,000 after acquiring an additional 4,545 shares during the last quarter. Quantinno Capital Management LP boosted its stake in AerSale by 90.7% during the 1st quarter. Quantinno Capital Management LP now owns 62,953 shares of the company’s stock valued at $392,000 after purchasing an additional 29,937 shares during the last quarter. State of Wyoming increased its holdings in AerSale by 102.5% during the 1st quarter. State of Wyoming now owns 18,207 shares of the company’s stock worth $113,000 after purchasing an additional 9,218 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in AerSale by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company’s stock worth $8,691,000 after purchasing an additional 110,360 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of AerSale by 39.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock worth $55,000 after purchasing an additional 2,477 shares during the last quarter. Institutional investors own 69.48% of the company’s stock.

AerSale Company Profile

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear?down and component overhaul, used serviceable material programs and end?of?life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.