TD Cowen Begins Coverage on Air Lease (NYSE:AL)

TD Cowen started coverage on shares of Air Lease (NYSE:AL) in a report released on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $58.00 target price on the transportation company’s stock.

Separately, Barclays boosted their target price on shares of Air Lease from $48.00 to $55.00 and gave the company an overweight rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $54.20.

Air Lease Stock Up 1.7 %

Air Lease stock opened at $49.62 on Monday. Air Lease has a fifty-two week low of $33.33 and a fifty-two week high of $52.31. The stock has a market cap of $5.53 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.59. The firm’s 50-day simple moving average is $47.41 and its 200 day simple moving average is $46.43. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48.

Air Lease (NYSE:AL) last released its quarterly earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.07). Air Lease had a return on equity of 9.00% and a net margin of 21.89%. The firm had revenue of $663.31 million for the quarter, compared to analysts’ expectations of $677.26 million. During the same quarter last year, the firm posted $1.06 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts predict that Air Lease will post 6.68 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Tuesday, June 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Tuesday, June 4th. Air Lease’s dividend payout ratio (DPR) is presently 16.94%.

Hedge Funds Weigh In On Air Lease

A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its holdings in shares of Air Lease by 1.2% in the 1st quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock worth $966,000 after buying an additional 217 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Air Lease by 1.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock valued at $1,119,000 after purchasing an additional 291 shares in the last quarter. Janney Capital Management LLC boosted its stake in shares of Air Lease by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 10,668 shares of the transportation company’s stock valued at $447,000 after purchasing an additional 325 shares in the last quarter. Neo Ivy Capital Management boosted its stake in shares of Air Lease by 32.4% in the 4th quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 330 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Air Lease by 6.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,492 shares of the transportation company’s stock valued at $272,000 after purchasing an additional 404 shares in the last quarter. Institutional investors 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.