Air Lease Co. (NYSE:AL) Given Consensus Rating of “Buy” by Analysts

Air Lease Co. (NYSE:AL) has earned an average rating of “Buy” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $57.60.

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Air Lease in a research note on Thursday, November 21st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AL. Loomis Sayles & Co. L P purchased a new position in shares of Air Lease in the third quarter worth approximately $18,289,000. Principal Financial Group Inc. grew its position in Air Lease by 42.6% during the second quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock valued at $36,130,000 after purchasing an additional 227,274 shares in the last quarter. Thornburg Investment Management Inc. purchased a new position in Air Lease during the second quarter valued at approximately $7,885,000. Highland Peak Capital LLC purchased a new position in Air Lease during the third quarter valued at approximately $7,066,000. Finally, Earnest Partners LLC grew its position in Air Lease by 7.4% during the second quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock valued at $107,859,000 after purchasing an additional 155,665 shares in the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Up 0.1 %

AL stock opened at $49.42 on Monday. Air Lease has a 52 week low of $39.15 and a 52 week high of $52.31. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61. The firm’s 50-day moving average is $47.23 and its two-hundred day moving average is $46.29. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a $0.22 dividend. This is an increase from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, December 12th. Air Lease’s dividend payout ratio (DPR) is 20.05%.

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.