Air Lease (NYSE:AL) Downgraded to “Underperform” Rating by Bank of America

Air Lease (NYSE:AL) was downgraded by equities researchers at Bank of America from a “buy” rating to an “underperform” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They presently have a $50.00 price objective on the transportation company’s stock, down from their previous price objective of $72.00. Bank of America‘s target price points to a potential upside of 8.03% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and set a $65.00 price target on shares of Air Lease in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Air Lease currently has a consensus rating of “Moderate Buy” and an average target price of $56.80.

Air Lease Price Performance

Shares of NYSE AL opened at $46.28 on Friday. The business’s 50 day moving average price is $47.17 and its two-hundred day moving average price is $46.63. The company has a market cap of $5.15 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.33 and a beta of 1.59. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease has a twelve month low of $39.43 and a twelve month high of $52.31.

Air Lease (NYSE:AL) last announced 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 return on equity of 8.01% and a net margin of 15.65%. On average, analysts predict that Air Lease will post 5.16 EPS for the current year.

Institutional Investors Weigh In On Air Lease

Institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Air Lease in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Air Lease in the fourth quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Air Lease in the third quarter valued at approximately $31,000. Engine Capital Management LP bought a new stake in shares of Air Lease in the fourth quarter valued at approximately $36,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Air Lease by 5,245.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company’s stock worth $52,000 after purchasing an additional 1,049 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

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.