Brokerages Set Air Lease Co. (NYSE:AL) Target Price at $57.60

Shares of Air Lease Co. (NYSE:AL) have been given a consensus rating of “Buy” by the five research firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is $57.60.

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on 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 restated a “buy” rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday. TD Cowen began coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price target for the company. Finally, Barclays dropped their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd.

Air Lease Price Performance

Shares of AL opened at $50.64 on Thursday. The firm has a market capitalization of $5.64 billion, a PE ratio of 11.54, a P/E/G ratio of 1.54 and a beta of 1.59. The stock’s 50 day moving average is $45.48 and its two-hundred day moving average is $46.13. Air Lease has a twelve month low of $37.65 and a twelve month high of $52.31. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

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

Institutional Trading of Air Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AL. Vanguard Group Inc. boosted its position in Air Lease by 23.6% during the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after purchasing an additional 2,404,649 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Air Lease by 240.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company’s stock valued at $7,119,000 after purchasing an additional 97,703 shares in the last quarter. American Century Companies Inc. increased its holdings 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. Comerica Bank boosted its stake in shares of Air Lease by 32.0% during the 1st quarter. Comerica Bank now owns 138,314 shares of the transportation company’s stock valued at $7,115,000 after buying an additional 33,524 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of 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 buying an additional 16,281 shares in the last quarter. Hedge funds and other 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.