Air Lease (NYSE:AL) Price Target Cut to $52.00 by Analysts at JPMorgan Chase & Co.

Air Lease (NYSE:AL) had its price target cut by JPMorgan Chase & Co. from $54.00 to $52.00 in a report issued on Monday, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Other research analysts also recently issued research reports about the stock. TD Cowen started coverage on shares of Air Lease in a research note on Monday, July 29th. They issued a buy rating and a $58.00 target price on the stock. Barclays reduced their target price on shares of Air Lease from $55.00 to $54.00 and set an overweight rating for the company in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $53.67.

Air Lease Trading Up 0.9 %

NYSE:AL opened at $42.70 on Monday. Air Lease has a one year low of $33.33 and a one year high of $52.31. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.48 and a quick ratio of 0.48. The company’s 50-day simple moving average is $46.85 and its 200 day simple moving average is $46.52. The firm has a market capitalization of $4.76 billion, a P/E ratio of 8.61, a PEG ratio of 1.03 and a beta of 1.59.

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

Air Lease Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.97%. Air Lease’s dividend payout ratio is 16.94%.

Hedge Funds Weigh In On Air Lease

Several institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its stake in shares of Air Lease by 57.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 53,311 shares of the transportation company’s stock worth $2,534,000 after purchasing an additional 19,557 shares during the period. NINE MASTS CAPITAL Ltd bought a new position in shares of Air Lease during the 2nd quarter worth approximately $1,222,000. Thornburg Investment Management Inc. purchased a new stake in Air Lease during the 2nd quarter worth approximately $7,885,000. Qsemble Capital Management LP purchased a new stake in Air Lease during the 2nd quarter worth approximately $354,000. Finally, American Century Companies Inc. grew its position in Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock worth $115,673,000 after purchasing an additional 115,293 shares during 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.