Air Lease Corp (NYSE:AL) EVP Grant A. Levy sold 15,000 shares of Air Lease stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $45.13, for a total value of $676,950.00. Following the transaction, the executive vice president now owns 153,399 shares in the company, valued at approximately $6,922,896.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of AL stock traded up $0.55 on Friday, reaching $45.68. 392,730 shares of the company’s stock traded hands, compared to its average volume of 615,146. Air Lease Corp has a 12-month low of $39.57 and a 12-month high of $50.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.18 and a beta of 1.79.
Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, August 9th. The transportation company reported $1.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.04. Air Lease had a return on equity of 10.85% and a net margin of 51.22%. The business had revenue of $397.80 million for the quarter, compared to the consensus estimate of $400.11 million. During the same quarter in the previous year, the company posted $1.51 earnings per share. Air Lease’s revenue for the quarter was up 4.4% compared to the same quarter last year. sell-side analysts predict that Air Lease Corp will post 4.47 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Air Lease by 5.4% in the second quarter. FMR LLC now owns 3,490,348 shares of the transportation company’s stock valued at $146,490,000 after purchasing an additional 178,070 shares in the last quarter. Hahn Capital Management LLC purchased a new position in Air Lease in the second quarter valued at about $8,370,000. Jane Street Group LLC purchased a new position in Air Lease in the second quarter valued at about $618,000. Advisors Asset Management Inc. grew its stake in Air Lease by 1,105.1% in the second quarter. Advisors Asset Management Inc. now owns 37,552 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 34,436 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Air Lease by 19.4% in the second quarter. California Public Employees Retirement System now owns 275,540 shares of the transportation company’s stock valued at $11,564,000 after purchasing an additional 44,713 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.
AL has been the topic of a number of research analyst reports. Compass Point reiterated a “buy” rating and set a $58.00 price target on shares of Air Lease in a report on Sunday, August 12th. ValuEngine downgraded Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Royal Bank of Canada lifted their price target on Air Lease from $91.00 to $93.00 and gave the company a “top pick” rating in a report on Friday, August 10th. Bank of America reiterated a “buy” rating and set a $57.00 price target on shares of Air Lease in a report on Thursday, August 16th. Finally, Citigroup lifted their price target on Air Lease from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, August 15th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Air Lease has a consensus rating of “Hold” and a consensus target price of $55.85.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
Receive News & Ratings for Air Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease and related companies with MarketBeat.com's FREE daily email newsletter.