Air Lease (NYSE:AL) Price Target Cut to $52.00 by Analysts at JPMorgan Chase & Co.

Air Lease (NYSE:AL) had its target price reduced by JPMorgan Chase & Co. from $54.00 to $52.00 in a research report report published on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the transportation company’s stock.

Several other equities research analysts also recently weighed in on AL. Barclays reduced their price target on shares of Air Lease from $55.00 to $54.00 and set an overweight rating for the company in a research report on Friday, August 2nd. TD Cowen initiated coverage on shares of Air Lease in a research report on Monday, July 29th. They set a buy rating and a $58.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Lease currently has an average rating of Moderate Buy and an average target price of $53.67.

Air Lease Price Performance

AL stock opened at $42.70 on Monday. The firm has a 50 day moving average price of $46.85 and a 200-day moving average price of $46.52. Air Lease has a 52-week low of $33.33 and a 52-week high of $52.31. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 1.03 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.07). The firm had revenue of $663.31 million for the quarter, compared to the consensus estimate of $677.26 million. Air Lease had a net margin of 20.85% and a return on equity of 9.03%. Air Lease’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $1.06 EPS. Equities research analysts forecast that Air Lease will post 6.68 EPS for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, September 6th. Air Lease’s dividend payout ratio is presently 16.94%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Air Lease by 23.6% during the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after acquiring an additional 2,404,649 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Air Lease by 459.7% during the 1st quarter. Maryland State Retirement & Pension System now owns 45,301 shares of the transportation company’s stock valued at $2,198,000 after buying an additional 37,207 shares in the last quarter. Trexquant Investment LP lifted its stake in shares of Air Lease by 134.7% during the 4th quarter. Trexquant Investment LP now owns 131,461 shares of the transportation company’s stock valued at $5,513,000 after buying an additional 75,449 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Air Lease by 812.8% during the 4th quarter. BNP Paribas Financial Markets now owns 25,740 shares of the transportation company’s stock valued at $1,080,000 after buying an additional 22,920 shares in the last quarter. Finally, Park West Asset Management LLC purchased a new position in shares of Air Lease during the 4th quarter valued at $3,775,000. Hedge funds and other 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.