Royal Bank of Canada Forecasts Strong Price Appreciation for AerSale (NASDAQ:ASLE) Stock

AerSale (NASDAQ:ASLE) had its price target boosted by analysts at Royal Bank of Canada from $7.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 2.91% from the company’s previous close.

Separately, TD Cowen upgraded AerSale to a “hold” rating in a research note on Thursday, December 19th.

AerSale Stock Performance

Shares of ASLE stock opened at $8.24 on Friday. The firm has a market cap of $438.46 million, a P/E ratio of 824.82 and a beta of 0.29. AerSale has a fifty-two week low of $4.53 and a fifty-two week high of $9.40. The business’s 50 day moving average price is $6.73 and its 200-day moving average price is $5.95.

Institutional Investors Weigh In On AerSale

Several hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new stake in shares of AerSale in the fourth quarter worth approximately $138,000. Nuveen Asset Management LLC raised its holdings in shares of AerSale by 22.4% in the fourth quarter. Nuveen Asset Management LLC now owns 572,882 shares of the company’s stock worth $3,609,000 after buying an additional 104,663 shares during the period. Graham Capital Management L.P. raised its holdings in shares of AerSale by 78.8% in the fourth quarter. Graham Capital Management L.P. now owns 48,332 shares of the company’s stock worth $304,000 after buying an additional 21,301 shares during the period. Ethic Inc. purchased a new stake in shares of AerSale in the fourth quarter worth approximately $103,000. Finally, Deutsche Bank AG grew its stake in AerSale by 82.9% in the fourth quarter. Deutsche Bank AG now owns 41,472 shares of the company’s stock worth $261,000 after purchasing an additional 18,792 shares in the last quarter. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).