Air Lease (NYSE:AL) Given New $56.00 Price Target at JPMorgan Chase & Co.

Air Lease (NYSE:AL) had its target price upped by JPMorgan Chase & Co. from $52.00 to $56.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 15.70% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. TD Cowen initiated coverage on shares of Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 target price for the company. Barclays dropped their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.75.

Air Lease Stock Up 0.1 %

Shares of AL stock traded up $0.04 during mid-day trading on Tuesday, reaching $48.40. 74,851 shares of the company’s stock traded hands, compared to its average volume of 966,417. The company’s 50-day moving average price is $44.42 and its 200-day moving average price is $46.20. The company has a market cap of $5.39 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.40 and a beta of 1.59. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. Air Lease has a 12 month low of $36.58 and a 12 month high of $52.31.

Institutional Investors Weigh In On Air Lease

Large investors have recently bought and sold shares of the business. Highland Peak Capital LLC purchased a new stake in Air Lease in the third quarter worth approximately $7,066,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Air Lease in the third quarter worth $872,000. Factorial Partners LLC increased its position in Air Lease by 10.7% during the third quarter. Factorial Partners LLC now owns 79,700 shares of the transportation company’s stock valued at $3,610,000 after acquiring an additional 7,700 shares during the last quarter. BCGM Wealth Management LLC bought a new position in Air Lease in the third quarter valued at about $1,899,000. Finally, Natixis Advisors LLC lifted its holdings in Air Lease by 8.6% in the third quarter. Natixis Advisors LLC now owns 204,577 shares of the transportation company’s stock valued at $9,266,000 after acquiring an additional 16,184 shares during the period. 94.59% of the stock is currently owned by institutional investors.

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.