Air Lease (NYSE:AL) Price Target Cut to $54.00 by Analysts at Barclays

Air Lease (NYSE:AL) had its target price lowered by Barclays from $55.00 to $54.00 in a report published on Friday, Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

Separately, TD Cowen began coverage on shares of Air Lease in a report on Monday, July 29th. They issued a buy rating and a $58.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $53.67.

Air Lease Stock Performance

Shares of AL stock opened at $40.68 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69. The business’s fifty day simple moving average is $47.13 and its 200-day simple moving average is $46.57. Air Lease has a 12-month low of $33.33 and a 12-month high of $52.31. The company has a market cap of $4.53 billion, a PE ratio of 8.20, a PEG ratio of 1.03 and a beta of 1.59.

Air Lease (NYSE:AL) last posted its earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.07). The firm had revenue of $663.31 million for the quarter, compared to analysts’ expectations of $677.26 million. Air Lease had a return on equity of 9.03% and a net margin of 20.85%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. Analysts expect that Air Lease will post 6.68 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 6th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, September 6th. Air Lease’s payout ratio is presently 16.94%.

Hedge Funds Weigh In On Air Lease

A number of institutional investors and hedge funds have recently bought and sold shares of AL. Vanguard Group Inc. grew its position in shares of Air Lease by 23.6% in the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock valued at $647,018,000 after purchasing an additional 2,404,649 shares during the period. Maryland State Retirement & Pension System grew its holdings in Air Lease by 459.7% in the 1st quarter. Maryland State Retirement & Pension System now owns 45,301 shares of the transportation company’s stock valued at $2,198,000 after buying an additional 37,207 shares in the last quarter. Trexquant Investment LP grew its holdings in Air Lease by 134.7% in the 4th quarter. Trexquant Investment LP now owns 131,461 shares of the transportation company’s stock valued at $5,513,000 after buying an additional 75,449 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Air Lease by 812.8% in the 4th quarter. BNP Paribas Financial Markets now owns 25,740 shares of the transportation company’s stock valued at $1,080,000 after buying an additional 22,920 shares in the last quarter. Finally, Park West Asset Management LLC acquired a new stake in shares of Air Lease during the 4th quarter worth $3,775,000. 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.