Air Lease (NYSE:AL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Air Lease (NYSE:AL) had its price objective upped by JPMorgan Chase & Co. from $52.00 to $56.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

AL has been the subject of a number of other research reports. TD Cowen started coverage on Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 price target for the company. Barclays decreased their target price on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Air Lease has an average rating of “Moderate Buy” and an average target price of $55.75.

Air Lease Trading Up 0.0 %

Shares of Air Lease stock opened at $48.38 on Tuesday. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $5.39 billion, a PE ratio of 11.02, a P/E/G ratio of 1.40 and a beta of 1.59. Air Lease has a 1-year low of $36.58 and a 1-year high of $52.31. The company’s fifty day simple moving average is $44.51 and its 200-day simple moving average is $46.18.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio (DPR) is currently 20.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Air Lease by 23.6% during 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. CANADA LIFE ASSURANCE Co boosted its stake in Air Lease by 240.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company’s stock worth $7,119,000 after buying an additional 97,703 shares during the period. Mutual of America Capital Management LLC purchased a new stake in shares of Air Lease in the first quarter valued at $915,000. American Century Companies Inc. lifted its holdings in shares of Air Lease by 5.0% in the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock worth $115,673,000 after acquiring an additional 115,293 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Air Lease by 32.0% during the first quarter. Comerica Bank now owns 138,314 shares of the transportation company’s stock valued at $7,115,000 after buying an additional 33,524 shares during the period. 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.