Air Lease (NYSE:AL) Sets New 1-Year High at $51.40

Air Lease Co. (NYSE:AL) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $51.40 and last traded at $51.22, with a volume of 46452 shares changing hands. The stock had previously closed at $50.76.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AL. Barclays lifted their target price on Air Lease from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. BMO Capital Markets raised their price target on shares of Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, StockNews.com raised shares of Air Lease from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.50.

Air Lease Stock Up 1.9 %

The stock has a market cap of $5.76 billion, a PE ratio of 9.86, a P/E/G ratio of 0.76 and a beta of 1.62. The business has a 50 day moving average price of $43.12 and a 200 day moving average price of $40.13. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.79. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The business had revenue of $716.57 million for the quarter, compared to analysts’ expectations of $672.95 million. During the same quarter last year, the company earned $1.21 EPS. The business’s revenue was up 19.1% on a year-over-year basis. Equities research analysts expect that Air Lease Co. will post 5.64 EPS for the current fiscal year.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Thursday, March 14th. Air Lease’s dividend payout ratio (DPR) is presently 16.31%.

Insider Buying and Selling at Air Lease

In other news, EVP Carol Hyland Forsyte sold 3,046 shares of Air Lease stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the sale, the executive vice president now owns 72,073 shares in the company, valued at $2,884,361.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Carol Hyland Forsyte sold 3,046 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the transaction, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at approximately $2,884,361.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kishore Korde sold 16,593 shares of Air Lease stock in a transaction on Monday, February 26th. The stock was sold at an average price of $39.70, for a total transaction of $658,742.10. Following the sale, the executive vice president now directly owns 112,375 shares in the company, valued at approximately $4,461,287.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,646 shares of company stock valued at $3,705,152. Company insiders own 6.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jump Financial LLC purchased a new position in Air Lease during the third quarter worth approximately $1,256,000. Natixis Advisors L.P. increased its stake in shares of Air Lease by 0.6% in the 3rd quarter. Natixis Advisors L.P. now owns 186,241 shares of the transportation company’s stock worth $7,340,000 after acquiring an additional 1,049 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Air Lease by 47.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 938,826 shares of the transportation company’s stock worth $36,999,000 after acquiring an additional 302,576 shares during the period. Rhumbline Advisers boosted its position in shares of Air Lease by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 117,134 shares of the transportation company’s stock valued at $4,616,000 after acquiring an additional 2,423 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Air Lease in the third quarter valued at about $5,982,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

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.