Air Lease (NYSE:AL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Air Lease (NYSE:AL) had its price objective lifted by JPMorgan Chase & Co. from $52.00 to $56.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

Several other equities analysts have also commented on the company. Barclays dropped their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. TD Cowen started coverage on Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.75.

Air Lease Stock Down 0.0 %

AL traded down $0.01 on Tuesday, hitting $48.99. 33,167 shares of the company were exchanged, compared to its average volume of 963,823. Air Lease has a twelve month low of $37.59 and a twelve month high of $52.31. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. The firm has a 50-day moving average price of $44.72 and a two-hundred day moving average price of $46.22.

Air Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s payout ratio is 19.13%.

Hedge Funds Weigh In On Air Lease

A number of hedge funds and other institutional investors have recently bought and sold shares of AL. Envestnet Portfolio Solutions Inc. increased its stake in Air Lease by 1.4% in the 1st 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. Oppenheimer Asset Management Inc. raised its holdings in Air Lease by 0.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock valued at $2,429,000 after acquiring an additional 314 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Air Lease by 12.6% during the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after buying an additional 389 shares during the period. CWM LLC boosted its position in shares of Air Lease by 16.5% in the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock worth $148,000 after acquiring an additional 440 shares during the last quarter. Finally, Hilltop National Bank boosted its holdings in shares of Air Lease by 33.8% in the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 448 shares during 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.