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

Shares of Air Lease Co. (NYSE:AL) have been given a consensus recommendation of “Buy” by the five analysts that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $57.60.

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Barclays decreased their target price on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $65.00 price objective on shares of Air Lease in a research report on Thursday, November 21st. Finally, TD Cowen began coverage on shares of Air Lease in a report on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective on the stock.

Hedge Funds Weigh In On Air Lease

Several institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its position in Air Lease by 0.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock worth $2,429,000 after buying an additional 314 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Air Lease by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after purchasing an additional 389 shares during the period. CWM LLC raised its stake in Air Lease by 16.5% in the second quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after purchasing an additional 440 shares in the last quarter. Hilltop National Bank lifted its position in Air Lease by 33.8% during the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after purchasing an additional 448 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in Air Lease by 11.9% during the third quarter. Orion Portfolio Solutions LLC now owns 4,819 shares of the transportation company’s stock worth $218,000 after buying an additional 511 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Stock Performance

Shares of AL opened at $52.16 on Thursday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50-day moving average of $45.48 and a 200-day moving average of $46.10. The company has a market cap of $5.81 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.57 and a beta of 1.59. Air Lease has a one year low of $37.65 and a one year high of $52.31.

Air Lease Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a $0.22 dividend. The ex-dividend date is Thursday, December 12th. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.69%. Air Lease’s payout ratio is 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.