Air Lease Co. (NYSE:AL) Receives $57.60 Average Target Price from Analysts

Shares of Air Lease Co. (NYSE:AL) have earned an average recommendation of “Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $57.60.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Barclays lowered their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. TD Cowen assumed coverage on Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 target price for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $65.00 price target on shares of Air Lease in a research report on Thursday.

Institutional Investors Weigh In On Air Lease

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eastern Bank acquired a new stake in shares of Air Lease during the third quarter worth about $27,000. Altshuler Shaham Ltd purchased a new stake in Air Lease in the second quarter valued at approximately $29,000. GAMMA Investing LLC boosted its holdings in shares of Air Lease by 108.1% in the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 624 shares during the period. Hilltop National Bank boosted its holdings in shares of Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock valued at $84,000 after acquiring an additional 448 shares during the period. Finally, Monetary Management Group Inc. purchased a new position in shares of Air Lease during the second quarter worth approximately $95,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Performance

Shares of NYSE:AL opened at $50.64 on Thursday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. Air Lease has a 1 year low of $37.65 and a 1 year high of $52.31. The firm has a market capitalization of $5.64 billion, a PE ratio of 11.54, a P/E/G ratio of 1.54 and a beta of 1.59. The business’s 50 day moving average price is $45.48 and its 200-day moving average price is $46.13.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is 19.13%.

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.