JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Air Lease (NYSE:AL) Stock

Air Lease (NYSE:AL) had its target price lifted by research analysts at JPMorgan Chase & Co. from $56.00 to $57.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 11.42% from the company’s previous close.

Separately, The Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 price target on shares of Air Lease in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Air Lease has a consensus rating of “Moderate Buy” and a consensus price target of $57.80.

Air Lease Stock Performance

Shares of AL stock opened at $51.16 on Tuesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $5.70 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.59. The company’s 50 day moving average price is $47.43 and its two-hundred day moving average price is $46.32. Air Lease has a 52 week low of $39.35 and a 52 week high of $52.31.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. On average, analysts expect that Air Lease will post 6.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Air Lease

Hedge funds and other institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Air Lease in the third quarter valued at $872,000. BCGM Wealth Management LLC bought a new position in shares of Air Lease in the third quarter valued at $1,899,000. Harbor Capital Advisors Inc. grew its stake in shares of Air Lease by 109.0% in the third quarter. Harbor Capital Advisors Inc. now owns 161,127 shares of the transportation company’s stock valued at $7,297,000 after buying an additional 84,016 shares in the last quarter. Raymond James & Associates grew its stake in shares of Air Lease by 12.4% in the third quarter. Raymond James & Associates now owns 459,018 shares of the transportation company’s stock valued at $20,789,000 after buying an additional 50,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Air Lease by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,115,221 shares of the transportation company’s stock valued at $50,508,000 after buying an additional 36,596 shares in the last quarter. 94.59% of the stock is owned by institutional investors.

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.