Air Lease (NYSE:AL) Reaches New 1-Year High – Still a Buy?

Air Lease Co. (NYSE:AL) shares reached a new 52-week high during trading on Monday . The company traded as high as $52.31 and last traded at $52.16, with a volume of 772747 shares trading hands. The stock had previously closed at $50.64.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of Air Lease in a research note on Thursday, November 21st. Finally, Barclays lowered their price objective 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Air Lease Stock Performance

The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63. The stock has a market cap of $5.65 billion, a PE ratio of 11.67, a P/E/G ratio of 1.61 and a beta of 1.59. The business’s 50-day moving average price is $45.79 and its 200-day moving average price is $46.13.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. Air Lease’s dividend payout ratio (DPR) is 19.13%.

Institutional Trading of Air Lease

Several large investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in Air Lease during the 3rd quarter worth about $31,000. Rehmann Capital Advisory Group purchased a new position in shares of Air Lease in the third quarter worth about $202,000. Geode Capital Management LLC lifted its holdings in shares of Air Lease by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company’s stock worth $73,858,000 after purchasing an additional 6,190 shares during the period. Barclays PLC boosted its position in Air Lease by 104.6% in the third quarter. Barclays PLC now owns 86,033 shares of the transportation company’s stock valued at $3,897,000 after buying an additional 43,981 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in Air Lease by 91.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,017 shares of the transportation company’s stock worth $725,000 after buying an additional 7,659 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

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.