Bank of America Downgrades Air Lease (NYSE:AL) to Underperform

Air Lease (NYSE:AL) was downgraded by equities research analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $50.00 price target on the transportation company’s stock, down from their previous price target of $72.00. Bank of America‘s price target would suggest a potential upside of 8.98% from the company’s current price.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group restated a “buy” rating and issued a $65.00 price target on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on shares of Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Air Lease currently has an average rating of “Moderate Buy” and a consensus price target of $56.80.

Air Lease Trading Down 0.9 %

NYSE AL opened at $45.88 on Friday. Air Lease has a one year low of $39.43 and a one year high of $52.31. The company’s 50 day moving average price is $47.04 and its 200 day moving average price is $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. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.33 and a beta of 1.60.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. On average, sell-side analysts predict that Air Lease will post 5.16 EPS for the current year.

Institutional Trading of Air Lease

A number of hedge funds have recently made changes to their positions in AL. Norges Bank acquired a new stake in shares of Air Lease during the fourth quarter worth approximately $49,415,000. Allspring Global Investments Holdings LLC grew its position in shares of Air Lease by 43.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock worth $134,332,000 after buying an additional 842,780 shares in the last quarter. Capital Research Global Investors grew its position in shares of Air Lease by 50.7% during the fourth quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company’s stock worth $98,830,000 after buying an additional 690,000 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Air Lease during the fourth quarter worth approximately $31,414,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Air Lease during the third quarter worth approximately $18,289,000. Institutional investors and hedge funds own 94.59% of the company’s stock.

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.