Air Lease (NYSE:AL) Shares Gap Down – Here’s Why

Air Lease Co. (NYSE:AL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $46.30, but opened at $45.20. Air Lease shares last traded at $45.66, with a volume of 114,030 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AL. JPMorgan Chase & Co. boosted their target price on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. Finally, Bank of America cut Air Lease from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $72.00 to $50.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Air Lease presently has an average rating of “Moderate Buy” and an average price target of $56.80.

Air Lease Stock Performance

The stock has a market cap of $5.11 billion, a PE ratio of 13.78, a PEG ratio of 1.33 and a beta of 1.60. The stock has a fifty day simple moving average of $47.04 and a two-hundred day simple moving average of $46.64. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37.

Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. Equities analysts anticipate that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s payout ratio is 26.43%.

Hedge Funds Weigh In On Air Lease

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp raised its position in shares of Air Lease by 93.0% in the 4th quarter. Mackenzie Financial Corp now owns 30,725 shares of the transportation company’s stock valued at $1,481,000 after purchasing an additional 14,805 shares in the last quarter. University of Texas Texas AM Investment Management Co. raised its position in shares of Air Lease by 24.6% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 143,097 shares of the transportation company’s stock valued at $6,899,000 after acquiring an additional 28,250 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Air Lease during the 4th quarter valued at approximately $52,000. Vise Technologies Inc. acquired a new stake in shares of Air Lease during the 4th quarter valued at approximately $370,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Air Lease by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 256,363 shares of the transportation company’s stock valued at $12,359,000 after acquiring an additional 33,178 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

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.