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

Air Lease Co. (NYSE:AL) has been given an average recommendation of “Buy” by the five brokerages that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have covered the stock in the last year is $57.60.

A number of research firms recently commented on AL. The Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th.

Hedge Funds Weigh In On Air Lease

Institutional investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P acquired a new position in Air Lease during the third quarter worth approximately $18,289,000. Principal Financial Group Inc. raised its stake in Air Lease by 42.6% in the 2nd quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock valued at $36,130,000 after acquiring an additional 227,274 shares during the period. Thornburg Investment Management Inc. bought a new stake in Air Lease in the 2nd quarter valued at $7,885,000. Highland Peak Capital LLC acquired a new stake in Air Lease during the 3rd quarter valued at $7,066,000. Finally, Earnest Partners LLC boosted its position in Air Lease by 7.4% during the second quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock worth $107,859,000 after purchasing an additional 155,665 shares during the period. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Performance

Shares of NYSE:AL opened at $48.57 on Monday. The stock has a market capitalization of $5.41 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.55 and a beta of 1.61. 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 has a 1-year low of $39.15 and a 1-year high of $52.31. The business has a 50-day moving average price of $47.65 and a two-hundred day moving average price of $46.33.

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 issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.81%. 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 presently 20.05%.

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.