Air Lease (NYSE:AL) Hits New 52-Week High at $52.31

Air Lease Co. (NYSE:AL)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $52.31 and last traded at $52.05, with a volume of 49883 shares changing hands. The stock had previously closed at $51.56.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. StockNews.com downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, BMO Capital Markets lifted their target price on Air Lease from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.25.

Air Lease Stock Up 0.2 %

The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 0.70 and a beta of 1.65. The firm has a fifty day simple moving average of $46.25 and a 200-day simple moving average of $41.63. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.40 and a current ratio of 0.40.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.79. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The firm had revenue of $716.57 million during the quarter, compared to the consensus estimate of $672.95 million. During the same period last year, the business posted $1.21 earnings per share. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. As a group, sell-side analysts expect that Air Lease Co. will post 5.64 EPS for the current year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.63%. Air Lease’s dividend payout ratio is presently 16.31%.

Insider Activity at Air Lease

In other Air Lease news, EVP Alex A. Khatibi sold 11,198 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $43.11, for a total transaction of $482,745.78. Following the sale, the executive vice president now directly owns 87,499 shares in the company, valued at $3,772,081.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Alex A. Khatibi sold 11,199 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.37, for a total value of $530,496.63. Following the completion of the transaction, the executive vice president now owns 76,300 shares of the company’s stock, valued at $3,614,331. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex A. Khatibi sold 11,198 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $43.11, for a total transaction of $482,745.78. Following the completion of the transaction, the executive vice president now directly owns 87,499 shares of the company’s stock, valued at approximately $3,772,081.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,646 shares of company stock worth $3,705,152. Company insiders own 6.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AL. Mather Group LLC. bought a new position in shares of Air Lease during the first quarter valued at $31,000. CWM LLC increased its stake in shares of Air Lease by 296.1% in the third quarter. CWM LLC now owns 911 shares of the transportation company’s stock valued at $36,000 after buying an additional 681 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Air Lease in the third quarter worth approximately $40,000. Quantbot Technologies LP bought a new stake in Air Lease in the third quarter valued at approximately $48,000. Finally, Hexagon Capital Partners LLC raised its holdings in Air Lease by 1,341.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,254 shares of the transportation company’s stock worth $53,000 after purchasing an additional 1,167 shares during the last quarter. 94.59% of the stock is currently 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.