Air Lease Corp (AL) Trimmed to “Sell” at Zacks Investment Research

Air Lease Corp (AL) Trimmed to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Air Lease Corp (NYSE:AL) from a hold rating to a sell rating in a report issued on Tuesday morning.

According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reissued a buy rating on shares of Air Lease Corp in a research report on Monday, May 15th. Morgan Stanley downgraded Air Lease Corp from an overweight rating to an equal weight rating and upped their target price for the company from $40.00 to $42.00 in a research report on Thursday, April 6th. FBR & Co cut their target price on Air Lease Corp from $47.00 to $45.00 and set an outperform rating on the stock in a research report on Monday, May 15th. Finally, Cowen and Company upped their target price on Air Lease Corp from $37.00 to $41.00 and gave the company an outperform rating in a research report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $44.33.

Air Lease Corp (NYSE AL) opened at 38.35 on Tuesday. Air Lease Corp has a 1-year low of $24.49 and a 1-year high of $40.24. The stock has a 50 day moving average price of $37.17 and a 200-day moving average price of $36.98. The stock has a market capitalization of $3.96 billion, a P/E ratio of 11.42 and a beta of 1.60.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 11th. Investors of record on Wednesday, June 14th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Monday, June 12th. Air Lease Corp’s payout ratio is 9.12%.

In other Air Lease Corp news, EVP Jie Chen sold 30,000 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $39.14, for a total transaction of $1,174,200.00. Following the sale, the executive vice president now directly owns 280,341 shares of the company’s stock, valued at approximately $10,972,546.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John D. Poerschke sold 3,959 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $39.09, for a total value of $154,757.31. Following the sale, the executive vice president now directly owns 48,140 shares in the company, valued at $1,881,792.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,959 shares of company stock worth $1,480,957. 9.45% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the company. Buffington Mohr McNeal raised its stake in Air Lease Corp by 11.9% in the third quarter. Buffington Mohr McNeal now owns 97,015 shares of the transportation company’s stock valued at $2,772,000 after buying an additional 10,325 shares during the last quarter. BlackRock Fund Advisors raised its stake in Air Lease Corp by 2.9% in the third quarter. BlackRock Fund Advisors now owns 992,142 shares of the transportation company’s stock valued at $28,355,000 after buying an additional 28,051 shares during the last quarter. Mork Capital Management LLC raised its stake in Air Lease Corp by 16.3% in the third quarter. Mork Capital Management LLC now owns 50,000 shares of the transportation company’s stock valued at $1,429,000 after buying an additional 7,000 shares during the last quarter. Pacer Advisors Inc. raised its stake in Air Lease Corp by 9.1% in the third quarter. Pacer Advisors Inc. now owns 7,324 shares of the transportation company’s stock valued at $209,000 after buying an additional 612 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Air Lease Corp by 6.1% in the third quarter. HighTower Advisors LLC now owns 25,440 shares of the transportation company’s stock valued at $730,000 after buying an additional 1,465 shares during the last quarter. 90.06% of the stock is currently owned by institutional investors.

Air Lease Corp Company Profile

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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