Air Lease (NYSE:AL) Reaches New 1-Year High – Should You Buy?

Air Lease Co. (NYSE:AL) hit a new 52-week high during trading on Monday . The company traded as high as $52.31 and last traded at $52.16, with a volume of 772747 shares trading hands. The stock had previously closed at $50.64.

Analyst Ratings Changes

AL has been the topic of several analyst reports. Barclays cut their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research note on Thursday. Finally, TD Cowen started coverage on Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Air Lease Trading Up 3.0 %

The stock has a fifty day moving average of $45.48 and a 200-day moving average of $46.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $5.81 billion, a PE ratio of 11.88, a PEG ratio of 1.57 and a beta of 1.59.

Air Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.22 dividend. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s dividend payout ratio is 20.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its stake in shares of Air Lease by 5.0% in the second quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock valued at $115,673,000 after purchasing an additional 115,293 shares during the period. Comerica Bank raised its stake in Air Lease by 32.0% in the 1st quarter. Comerica Bank now owns 138,314 shares of the transportation company’s stock valued at $7,115,000 after purchasing an additional 33,524 shares during the last quarter. Public Sector Pension Investment Board increased its position in Air Lease by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 227,921 shares of the transportation company’s stock worth $10,833,000 after purchasing an additional 16,281 shares during the last quarter. BCGM Wealth Management LLC purchased a new position in shares of Air Lease in the 3rd quarter valued at $1,899,000. Finally, Caxton Associates LP bought a new stake in shares of Air Lease in the first quarter worth $774,000. 94.59% of the stock is owned by hedge funds and other 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.