AerSale (NASDAQ:ASLE) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of AerSale (NASDAQ:ASLE) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other research firms also recently issued reports on ASLE. Royal Bank Of Canada decreased their price objective on shares of AerSale from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Monday, August 10th. Zacks Research raised shares of AerSale to a “hold” rating in a research note on Wednesday, July 1st. B. Riley Financial assumed coverage on shares of AerSale in a research report on Monday, June 29th. They set a “neutral” rating and a $7.50 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AerSale in a research note on Wednesday, August 12th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AerSale has an average rating of “Reduce” and an average target price of $6.83.

AerSale Trading Up 0.5%

Shares of ASLE stock opened at $5.90 on Friday. AerSale has a 1-year low of $5.56 and a 1-year high of $9.12. The company has a market cap of $281.61 million, a price-to-earnings ratio of -73.75 and a beta of 0.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.27 and a quick ratio of 0.76. The stock has a 50 day simple moving average of $6.22 and a 200-day simple moving average of $6.58.

AerSale (NASDAQ:ASLE) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The company had revenue of $70.93 million during the quarter, compared to analyst estimates of $81.24 million. AerSale had a negative net margin of 1.23% and a negative return on equity of 0.27%. On average, equities research analysts expect that AerSale will post 0.18 EPS for the current fiscal year.

Insider Activity at AerSale

In other AerSale news, insider Frederick Craig Wright sold 4,182 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $6.34, for a total value of $26,513.88. Following the transaction, the insider owned 213,531 shares in the company, valued at approximately $1,353,786.54. This trade represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gary Edmund Jones sold 7,491 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $47,492.94. Following the completion of the transaction, the insider owned 162,405 shares in the company, valued at $1,029,647.70. The trade was a 4.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 21,316 shares of company stock valued at $135,160. 20.10% of the stock is owned by insiders.

Institutional Investors Weigh In On AerSale

A number of hedge funds have recently modified their holdings of ASLE. Amundi purchased a new position in shares of AerSale in the first quarter worth about $161,000. Jane Street Group LLC grew its stake in AerSale by 1,250.8% during the 1st quarter. Jane Street Group LLC now owns 174,543 shares of the company’s stock valued at $1,307,000 after acquiring an additional 161,622 shares in the last quarter. American Century Companies Inc. grew its stake in AerSale by 165.1% during the 2nd quarter. American Century Companies Inc. now owns 234,335 shares of the company’s stock valued at $1,408,000 after acquiring an additional 145,931 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in AerSale by 1.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 275,022 shares of the company’s stock valued at $1,653,000 after acquiring an additional 4,416 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in AerSale by 4.1% in the 2nd quarter. Invesco Ltd. now owns 92,867 shares of the company’s stock valued at $558,000 after acquiring an additional 3,652 shares during the last quarter. 69.48% of the stock is currently owned by institutional investors and hedge funds.

AerSale Company Profile

AerSale Inc is an integrated aftermarket solutions provider serving the global commercial, defense and business aviation markets. The company specializes in aircraft and engine maintenance, repair and overhaul (MRO), asset leasing and aviation parts distribution. Its key offerings include airframe heavy maintenance, engine tear‐down and component overhaul, used serviceable material programs and end‐of‐life aircraft disassembly. Through these services, AerSale supports operators seeking to optimize fleet availability, extend asset life cycles and reduce maintenance costs.

Founded in 2009 and headquartered in Coral Gables, Florida, AerSale has grown through strategic acquisitions and organic expansion.