Air Lease (NYSE:AL) Given New $54.00 Price Target at Barclays

Air Lease (NYSE:AL) had its price target trimmed by Barclays from $55.00 to $54.00 in a research report report published on Friday, Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

Separately, TD Cowen began coverage on Air Lease in a report on Monday, July 29th. They set a buy rating and a $58.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Air Lease has an average rating of Moderate Buy and a consensus price target of $54.00.

Air Lease Stock Down 13.8 %

AL stock traded down $6.60 during trading on Friday, reaching $41.11. 3,273,623 shares of the stock were exchanged, compared to its average volume of 756,079. The firm’s 50 day moving average is $47.29 and its 200 day moving average is $46.47. Air Lease has a twelve month low of $33.33 and a twelve month high of $52.31. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.69. The firm has a market cap of $4.58 billion, a P/E ratio of 8.28, a price-to-earnings-growth ratio of 1.03 and a beta of 1.59.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). The firm had revenue of $663.31 million for the quarter, compared to analyst estimates of $677.26 million. Air Lease had a return on equity of 9.03% and a net margin of 20.85%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. As a group, research analysts forecast that Air Lease will post 6.68 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 6th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, September 6th. Air Lease’s payout ratio is 16.94%.

Institutional Investors Weigh In On Air Lease

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Air Lease by 23.6% in the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock valued at $647,018,000 after acquiring an additional 2,404,649 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Air Lease by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,834,987 shares of the transportation company’s stock valued at $286,660,000 after acquiring an additional 178,632 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Air Lease by 44.3% in the 4th quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock valued at $192,260,000 after acquiring an additional 1,407,902 shares during the last quarter. Lyrical Asset Management LP lifted its stake in shares of Air Lease by 0.6% in the 4th quarter. Lyrical Asset Management LP now owns 2,169,309 shares of the transportation company’s stock valued at $90,981,000 after acquiring an additional 12,735 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Air Lease by 5.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock valued at $100,743,000 after acquiring an additional 101,568 shares during the last quarter. Institutional investors 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.