Air Lease Co. (NYSE:AL) Receives $57.60 Consensus Price Target from Analysts

Air Lease Co. (NYSE:AL) has received an average recommendation of “Buy” from the five research firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $57.60.

Several analysts recently weighed in on AL shares. Barclays reduced their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st.

Hedge Funds Weigh In On Air Lease

A number of institutional investors and hedge funds have recently made changes to their positions in AL. Wilmington Savings Fund Society FSB bought a new stake in shares of Air Lease during the third quarter valued at approximately $31,000. Rehmann Capital Advisory Group bought a new stake in Air Lease during the 3rd quarter valued at $202,000. Geode Capital Management LLC raised its holdings in Air Lease by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company’s stock worth $73,858,000 after buying an additional 6,190 shares during the last quarter. Barclays PLC grew its holdings in shares of Air Lease by 104.6% during the third quarter. Barclays PLC now owns 86,033 shares of the transportation company’s stock valued at $3,897,000 after buying an additional 43,981 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Air Lease by 91.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 16,017 shares of the transportation company’s stock worth $725,000 after acquiring an additional 7,659 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

Air Lease stock opened at $50.71 on Thursday. The business has a 50 day moving average of $45.79 and a 200-day moving average of $46.13. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. Air Lease has a 1 year low of $37.75 and a 1 year high of $52.31. The company has a market capitalization of $5.65 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.61 and a beta of 1.59.

Air Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.74%. Air Lease’s dividend payout ratio is currently 19.13%.

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.