Air Lease Co. (NYSE:AL) Given Consensus Recommendation of “Buy” by Brokerages

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

AL has been the subject of a number of recent research reports. The Goldman Sachs Group restated a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their price target 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.

Air Lease Stock Performance

Shares of NYSE AL opened at $47.30 on Friday. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.55 and a beta of 1.61. Air Lease has a one year low of $39.15 and a one year high of $52.31. The business has a fifty day simple moving average of $48.80 and a 200 day simple moving average of $46.56. 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 announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th were issued a $0.22 dividend. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, December 12th. Air Lease’s payout ratio is presently 20.05%.

Institutional Trading of Air Lease

Several large investors have recently made changes to their positions in AL. Loomis Sayles & Co. L P bought a new position in Air Lease in the 3rd quarter worth approximately $18,289,000. Thornburg Investment Management Inc. acquired a new position in shares of Air Lease during the second quarter valued at $7,885,000. Highland Peak Capital LLC bought a new position in Air Lease in the third quarter valued at about $7,066,000. Earnest Partners LLC increased its position in Air Lease by 7.4% in 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. Finally, American Century Companies Inc. raised 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. Institutional investors own 94.59% of the company’s stock.

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.