Air Lease Co. (NYSE:AL) Receives Average Rating of “Buy” from Brokerages

Air Lease Co. (NYSE:AL) has received a consensus rating of “Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $57.60.

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st.

Air Lease Trading Down 1.3 %

Air Lease stock opened at $47.30 on Friday. Air Lease has a 12-month low of $39.15 and a 12-month high of $52.31. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $5.27 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61. The firm has a 50 day simple moving average of $48.80 and a 200-day simple moving average of $46.56.

Air Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a yield of 1.86%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio is presently 20.05%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AL. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Air Lease in the third quarter worth $872,000. American Century Companies Inc. boosted its holdings in Air Lease by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock valued at $115,673,000 after purchasing an additional 115,293 shares during the period. BCGM Wealth Management LLC acquired a new stake in Air Lease in the 3rd quarter worth $1,899,000. Public Sector Pension Investment Board grew its position in Air Lease by 7.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 227,921 shares of the transportation company’s stock worth $10,833,000 after purchasing an additional 16,281 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Air Lease by 7.4% during the 2nd quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after purchasing an additional 155,665 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.

About Air Lease

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.