Air Lease (NYSE:AL) Announces Quarterly Earnings Results

Air Lease (NYSE:AL) released its quarterly earnings data on Monday. The transportation company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.05, Zacks reports. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.

Air Lease Stock Performance

NYSE:AL remained flat at $63.86 during mid-day trading on Monday. The company’s stock had a trading volume of 1,705,861 shares, compared to its average volume of 1,255,134. Air Lease has a 1 year low of $38.25 and a 1 year high of $64.30. The company has a fifty day moving average price of $63.22 and a two-hundred day moving average price of $58.23. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 7.75, a P/E/G ratio of 0.66 and a beta of 1.37.

Analyst Ratings Changes

AL has been the topic of several research analyst reports. Cowen cut Air Lease from a “buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Wednesday, September 3rd. TD Cowen cut Air Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating and set a $67.00 target price (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Air Lease presently has a consensus rating of “Hold” and an average price target of $60.29.

Insider Activity

In other Air Lease news, EVP David Beker sold 5,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $63.53, for a total value of $317,650.00. Following the transaction, the executive vice president owned 13,970 shares of the company’s stock, valued at approximately $887,514.10. This represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Grant A. Levy sold 5,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the transaction, the executive vice president directly owned 141,316 shares in the company, valued at $8,983,458.12. The trade was a 3.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,000 shares of company stock worth $746,380 in the last three months. Insiders own 6.64% of the company’s stock.

Institutional Investors Weigh In On Air Lease

A number of hedge funds have recently modified their holdings of the business. State Street Corp raised its position in shares of Air Lease by 0.8% during the second quarter. State Street Corp now owns 3,459,048 shares of the transportation company’s stock worth $203,084,000 after purchasing an additional 28,227 shares during the period. Bank of America Corp DE raised its position in Air Lease by 4.1% in the 2nd quarter. Bank of America Corp DE now owns 1,235,262 shares of the transportation company’s stock valued at $72,250,000 after buying an additional 48,413 shares during the last quarter. Sei Investments Co. raised its position in Air Lease by 26.8% in the 2nd quarter. Sei Investments Co. now owns 492,151 shares of the transportation company’s stock valued at $28,786,000 after buying an additional 104,085 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Air Lease by 1.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 439,623 shares of the transportation company’s stock valued at $25,714,000 after buying an additional 4,956 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Air Lease in the 2nd quarter valued at approximately $22,986,000. Institutional investors and hedge funds 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.