Air Lease (NYSE:AL) Given New $55.00 Price Target at Barclays

Air Lease (NYSE:AL) had its price target raised by analysts at Barclays from $48.00 to $55.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price suggests a potential upside of 13.12% from the stock’s current price.

AL has been the subject of several other reports. StockNews.com lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. BMO Capital Markets upped their price target on shares of Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

Air Lease Stock Up 0.3 %

Shares of NYSE:AL opened at $48.62 on Tuesday. Air Lease has a 52-week low of $33.33 and a 52-week high of $51.77. The firm has a fifty day moving average of $45.46 and a 200 day moving average of $41.20. The firm has a market capitalization of $5.41 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 0.66 and a beta of 1.65. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.40 and a current ratio of 0.40.

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

Insider Buying and Selling at Air Lease

In other news, EVP Kishore Korde sold 16,593 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $39.70, for a total transaction of $658,742.10. Following the completion of the sale, the executive vice president now directly owns 112,375 shares in the company, valued at $4,461,287.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO John L. Plueger sold 19,095 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.27, for a total transaction of $768,955.65. Following the completion of the sale, the chief executive officer now directly owns 859,153 shares in the company, valued at $34,598,091.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kishore Korde sold 16,593 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $39.70, for a total transaction of $658,742.10. Following the sale, the executive vice president now owns 112,375 shares of the company’s stock, valued at $4,461,287.50. The disclosure for this sale can be found here. Insiders sold a total of 89,646 shares of company stock worth $3,705,152 over the last three months. Company insiders own 6.64% of the company’s stock.

Institutional Trading of Air Lease

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its stake in Air Lease by 140.6% in the first quarter. Bank of Montreal Can now owns 126,761 shares of the transportation company’s stock worth $5,642,000 after buying an additional 74,067 shares in the last quarter. MetLife Investment Management LLC bought a new position in Air Lease in the first quarter worth about $96,000. BlackRock Inc. raised its stake in Air Lease by 1.6% in the first quarter. BlackRock Inc. now owns 5,763,177 shares of the transportation company’s stock worth $257,324,000 after buying an additional 90,225 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Air Lease by 7.3% in the first quarter. Great West Life Assurance Co. Can now owns 7,825 shares of the transportation company’s stock worth $368,000 after buying an additional 535 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Air Lease by 7.3% in the first quarter. Sei Investments Co. now owns 96,738 shares of the transportation company’s stock worth $4,324,000 after buying an additional 6,568 shares in the last quarter. 94.59% of the stock is currently owned by hedge funds and other 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.