Air Lease (NYSE:AL) Receives “Buy” Rating from The Goldman Sachs Group

Air Lease (NYSE:AL)‘s stock had its “buy” rating reissued by equities research analysts at The Goldman Sachs Group in a research note issued on Thursday,Benzinga reports. They currently have a $65.00 price target on the transportation company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 28.38% from the company’s previous close.

Several other equities research analysts have also commented on AL. 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. Barclays reduced their target price on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.60.

Air Lease Price Performance

NYSE AL opened at $50.63 on Thursday. Air Lease has a 52 week low of $37.65 and a 52 week high of $52.31. The firm has a market capitalization of $5.64 billion, a P/E ratio of 11.54, a PEG ratio of 1.49 and a beta of 1.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. The company has a 50-day moving average price of $45.34 and a 200-day moving average price of $46.14.

Institutional Investors Weigh In On Air Lease

A number of institutional investors have recently added to or reduced their stakes in AL. Vanguard Group Inc. grew its holdings 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 valued at $647,018,000 after buying an additional 2,404,649 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Air Lease during the 2nd quarter valued at approximately $22,339,000. Loomis Sayles & Co. L P bought a new position in shares of Air Lease during the 3rd quarter valued at approximately $18,289,000. Earnest Partners LLC boosted its position in shares of Air Lease by 19.4% during the 1st quarter. Earnest Partners LLC now owns 2,113,615 shares of the transportation company’s stock valued at $108,724,000 after acquiring an additional 343,360 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Air Lease by 42.6% during 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 last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

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.