Air Lease (NYSE:AL) Hits New 52-Week High at $52.31

Air Lease Co. (NYSE:AL)’s stock price hit a new 52-week high on Friday . The company traded as high as $52.31 and last traded at $52.05, with a volume of 49883 shares traded. The stock had previously closed at $51.56.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AL. StockNews.com downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. BMO Capital Markets upped their price objective on shares of Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Barclays upped their target price on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

Air Lease Stock Up 0.2 %

The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 0.70 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. The business’s 50-day moving average is $46.63 and its 200-day moving average is $41.81.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, February 15th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.79. The company had revenue of $716.57 million for the quarter, compared to analyst estimates of $672.95 million. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. On average, equities analysts predict that Air Lease Co. will post 5.64 EPS for the current year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, March 14th. Air Lease’s payout ratio is 16.31%.

Insiders Place Their Bets

In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the sale, the executive vice president now directly owns 72,073 shares in the company, valued at approximately $2,884,361.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Air Lease news, EVP Kishore Korde sold 16,593 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $39.70, for a total transaction of $658,742.10. Following the sale, the executive vice president now directly owns 112,375 shares of the company’s stock, valued at $4,461,287.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Carol Hyland Forsyte sold 3,046 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total transaction of $121,900.92. Following the sale, the executive vice president now directly owns 72,073 shares in the company, valued at $2,884,361.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,646 shares of company stock worth $3,705,152. Company insiders own 6.64% of the company’s stock.

Hedge Funds Weigh In On Air Lease

Several institutional investors and hedge funds have recently modified their holdings of the stock. Janney Capital Management LLC grew its stake in shares of Air Lease by 2.8% in the third quarter. Janney Capital Management LLC now owns 10,343 shares of the transportation company’s stock valued at $408,000 after acquiring an additional 281 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC raised its holdings in Air Lease by 0.6% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 50,266 shares of the transportation company’s stock valued at $1,981,000 after buying an additional 290 shares during the last quarter. Neo Ivy Capital Management raised its holdings in Air Lease by 32.4% in the 4th quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after buying an additional 330 shares during the last quarter. Quent Capital LLC raised its holdings in Air Lease by 10.4% in the 4th quarter. Quent Capital LLC now owns 3,798 shares of the transportation company’s stock valued at $159,000 after buying an additional 358 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Air Lease by 6.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,088 shares of the transportation company’s stock valued at $240,000 after purchasing an additional 360 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

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.