Air Lease Corp (AL) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of Air Lease Corp (NYSE:AL) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Air Lease Corp from a hold rating to a buy rating and set a $44.00 target price for the company in a report on Tuesday, February 21st. Royal Bank of Canada reiterated a buy rating on shares of Air Lease Corp in a report on Friday, May 5th. Morgan Stanley lowered shares of Air Lease Corp from an overweight rating to an equal weight rating and lifted their target price for the company from $40.00 to $42.00 in a report on Thursday, April 6th. FBR & Co lowered their target price on shares of Air Lease Corp from $47.00 to $45.00 and set an outperform rating for the company in a report on Monday, May 15th. Finally, Cowen and Company lifted their target price on shares of Air Lease Corp from $37.00 to $41.00 and gave the company an outperform rating in a report on Friday, February 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Air Lease Corp currently has a consensus rating of Buy and an average price target of $44.33.

Analyst Recommendations for Air Lease Corp (NYSE:AL)

Shares of Air Lease Corp (NYSE:AL) traded up 0.89% during mid-day trading on Friday, hitting $38.42. The stock had a trading volume of 780,053 shares. Air Lease Corp has a 52-week low of $24.49 and a 52-week high of $40.24. The stock’s 50-day moving average price is $37.39 and its 200-day moving average price is $37.11. The firm has a market cap of $3.96 billion, a PE ratio of 11.44 and a beta of 1.60.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 11th. Investors of record on Wednesday, June 14th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Monday, June 12th. This represents a $0.30 dividend on an annualized basis and a yield of 0.78%. Air Lease Corp’s payout ratio is currently 9.12%.

In related news, EVP Kishore Korde sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the transaction, the executive vice president now directly owns 88,410 shares in the company, valued at approximately $3,359,580. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jie Chen sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $39.14, for a total transaction of $1,174,200.00. Following the completion of the transaction, the executive vice president now owns 280,341 shares of the company’s stock, valued at $10,972,546.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,959 shares of company stock valued at $1,480,957. 9.45% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in AL. Silvercrest Asset Management Group LLC purchased a new position in shares of Air Lease Corp during the fourth quarter worth $365,000. Capstone Investment Advisors LLC bought a new stake in Air Lease Corp during the fourth quarter worth approximately $1,122,000. Cantab Capital Partners LLP bought a new stake in Air Lease Corp during the fourth quarter worth approximately $410,000. Old West Investment Management LLC increased its stake in Air Lease Corp by 8.2% in the fourth quarter. Old West Investment Management LLC now owns 79,895 shares of the transportation company’s stock worth $2,742,000 after buying an additional 6,039 shares during the period. Finally, Basswood Capital Management L.L.C. increased its stake in Air Lease Corp by 51.3% in the fourth quarter. Basswood Capital Management L.L.C. now owns 981,549 shares of the transportation company’s stock worth $33,697,000 after buying an additional 332,627 shares during the period. Institutional investors own 90.06% of the company’s stock.

About Air Lease Corp

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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