JPMorgan Chase & Co. Issues Positive Forecast for Air Lease (NYSE:AL) Stock Price

Air Lease (NYSE:AL) had its target price hoisted by JPMorgan Chase & Co. from $56.00 to $57.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

Separately, The Goldman Sachs Group reissued a “buy” rating and issued a $65.00 target price on shares of Air Lease in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.50.

Air Lease Price Performance

Shares of NYSE:AL opened at $50.59 on Tuesday. The firm has a market capitalization of $5.63 billion, a PE ratio of 15.19, a PEG ratio of 1.18 and a beta of 1.59. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease has a 1-year low of $39.35 and a 1-year high of $52.31. The business’s 50 day moving average is $47.45 and its 200-day moving average is $46.35.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. Sell-side analysts predict that Air Lease will post 6.17 earnings per share for the current year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a yield of 1.74%. Air Lease’s dividend payout ratio is currently 26.43%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System lifted its holdings in Air Lease by 0.8% during the 4th quarter. Arizona State Retirement System now owns 30,708 shares of the transportation company’s stock valued at $1,480,000 after purchasing an additional 244 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Air Lease by 11.6% during the fourth quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company’s stock worth $128,000 after buying an additional 276 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Air Lease by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company’s stock valued at $2,210,000 after acquiring an additional 280 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Air Lease by 3.0% in the fourth quarter. Squarepoint Ops LLC now owns 9,564 shares of the transportation company’s stock valued at $461,000 after acquiring an additional 281 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Air Lease by 0.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 53,625 shares of the transportation company’s stock worth $2,429,000 after acquiring an additional 314 shares in the last quarter. 94.59% of the stock is 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.