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

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

A number of other research analysts have also recently weighed in on AL. BMO Capital Markets boosted their price objective 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. Barclays boosted their price objective on shares of Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, StockNews.com lowered shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.80.

Air Lease Price Performance

Shares of NYSE:AL opened at $51.55 on Tuesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.40 and a quick ratio of 0.40. Air Lease has a 1-year low of $33.33 and a 1-year high of $52.31. The company has a market capitalization of $5.74 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.64 and a beta of 1.63. The firm’s 50 day simple moving average is $47.93 and its two-hundred day simple moving average is $42.52.

Air Lease (NYSE:AL) last released its earnings results on Monday, May 6th. The transportation company reported $0.87 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.43). Air Lease had a return on equity of 8.87% and a net margin of 22.89%. The company had revenue of $663.31 million during the quarter, compared to analysts’ expectations of $677.26 million. During the same period last year, the firm posted $1.06 EPS. Air Lease’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Air Lease will post 6.22 EPS for the current fiscal year.

Insider Transactions at Air Lease

In related news, CEO John L. Plueger sold 28,515 shares of Air Lease stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $40.06, for a total transaction of $1,142,310.90. Following the sale, the chief executive officer now directly owns 808,842 shares in the company, valued at approximately $32,402,210.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Air Lease news, EVP Alex A. Khatibi sold 11,198 shares of Air Lease stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $43.11, for a total value of $482,745.78. Following the transaction, the executive vice president now directly owns 87,499 shares in the company, valued at $3,772,081.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John L. Plueger sold 28,515 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $40.06, for a total transaction of $1,142,310.90. Following the transaction, the chief executive officer now owns 808,842 shares in the company, valued at $32,402,210.52. The disclosure for this sale can be found here. In the last three months, insiders sold 89,646 shares of company stock valued at $3,705,152. Insiders own 6.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Air Lease during the first quarter worth about $131,000. AIA Group Ltd purchased a new stake in shares of Air Lease in the first quarter valued at about $1,651,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Air Lease by 1.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock valued at $1,119,000 after purchasing an additional 291 shares in the last quarter. Texas Permanent School Fund Corp purchased a new stake in shares of Air Lease in the first quarter valued at about $4,649,000. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Air Lease in the first quarter valued at about $221,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Company Profile

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.