The Goldman Sachs Group Reaffirms “Buy” Rating for Air Lease (NYSE:AL)

Air Lease (NYSE:AL)‘s stock had its “buy” rating restated by stock analysts at The Goldman Sachs Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $65.00 price objective on the transportation company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 35.61% from the stock’s current price.

A number of other equities research analysts have also weighed in on AL. Barclays reduced their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price 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. Finally, TD Cowen initiated coverage on shares of Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Price Performance

Shares of NYSE:AL opened at $47.93 on Thursday. The firm has a 50 day simple moving average of $45.20 and a 200 day simple moving average of $46.11. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.49 and a beta of 1.59. Air Lease has a one year low of $37.65 and a one year high of $52.31. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43.

Institutional Investors Weigh In On Air Lease

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Air Lease during the 1st quarter worth approximately $131,000. Vanguard Group Inc. increased its stake in Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock valued at $647,018,000 after purchasing an additional 2,404,649 shares in the last quarter. American International Group Inc. raised its holdings in shares of Air Lease by 562.9% during the first quarter. American International Group Inc. now owns 5,641 shares of the transportation company’s stock valued at $290,000 after purchasing an additional 4,790 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Air Lease by 240.4% during the first 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 during the period. Finally, LRI Investments LLC bought a new position in shares of Air Lease during the 1st quarter worth about $192,000. 94.59% of the stock is currently owned by institutional investors.

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.