Air Lease Co. (NYSE:AL) Receives Average Rating of “Buy” from Brokerages

Air Lease Co. (NYSE:AL) has been assigned an average rating of “Buy” from the five ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $57.60.

Several brokerages have issued reports on AL. JPMorgan Chase & Co. raised their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group reissued a “buy” rating and set a $65.00 price target on shares of Air Lease in a report on Thursday, November 21st.

Air Lease Stock Performance

Shares of NYSE AL opened at $46.20 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. The company has a market capitalization of $5.15 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.55 and a beta of 1.61. Air Lease has a 12 month low of $39.15 and a 12 month high of $52.31. The stock has a 50 day moving average of $48.82 and a 200-day moving average of $46.50.

Air Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, December 12th were paid a $0.22 dividend. This is a boost from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Thursday, December 12th. Air Lease’s payout ratio is 20.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Eastern Bank bought a new stake in Air Lease during the third quarter worth $27,000. Altshuler Shaham Ltd bought a new stake in shares of Air Lease during the 2nd quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB acquired a new position in Air Lease during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC grew its stake in shares of Air Lease by 55.5% during the third quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company’s stock worth $85,000 after buying an additional 667 shares during the last quarter. Finally, KBC Group NV grew its position in Air Lease by 20.0% during the 3rd quarter. KBC Group NV now owns 3,345 shares of the transportation company’s stock worth $151,000 after acquiring an additional 557 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.