Air Lease (NYSE:AL) Price Target Lowered to $56.00 at TD Cowen

Air Lease (NYSE:AL) had its price target lowered by analysts at TD Cowen from $59.00 to $56.00 in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price suggests a potential upside of 8.63% from the stock’s current price.

AL has been the topic of a number of other research reports. StockNews.com lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. BMO Capital Markets raised their target price 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 raised their target price on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Air Lease presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

Air Lease Price Performance

NYSE AL opened at $51.55 on Tuesday. Air Lease has a 12 month low of $33.33 and a 12 month high of $52.31. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $5.74 billion, a PE ratio of 10.01, a P/E/G ratio of 0.64 and a beta of 1.63. The company’s 50 day simple moving average is $47.93 and its 200 day simple moving average is $42.52.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.43). Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The company had revenue of $663.31 million for the quarter, compared to analyst estimates of $677.26 million. During the same quarter in the prior year, the business earned $1.06 EPS. Air Lease’s revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Air Lease will post 6.22 EPS for the current fiscal year.

Insider Buying and Selling at Air Lease

In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of Air Lease stock in a transaction 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 completion of the sale, the executive vice president now owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 72,073 shares in the company, valued at approximately $2,884,361.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kishore Korde sold 16,593 shares of the firm’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 transaction, the executive vice president now owns 112,375 shares in the company, valued at approximately $4,461,287.50. The disclosure for this sale can be found here. Insiders sold 89,646 shares of company stock valued at $3,705,152 in the last quarter. Company insiders own 6.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Mather Group LLC. bought a new position in shares of Air Lease during the 1st quarter worth about $31,000. Neo Ivy Capital Management bought a new position in shares of Air Lease during the 3rd quarter worth about $40,000. Quantbot Technologies LP bought a new position in shares of Air Lease during the 3rd quarter worth about $48,000. Hexagon Capital Partners LLC increased its holdings in shares of Air Lease by 1,341.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock worth $53,000 after purchasing an additional 1,167 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of Air Lease during the 4th quarter worth about $77,000. Institutional investors own 94.59% of the company’s stock.

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.