AerSale (NASDAQ:ASLE) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of AerSale (NASDAQ:ASLE) from a hold rating to a strong sell rating in a research report report published on Thursday morning,Zacks.com reports.

Several other brokerages also recently commented on ASLE. B. Riley Financial assumed coverage on AerSale in a research report on Monday, June 29th. They issued a “neutral” rating and a $7.50 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of AerSale in a research report on Wednesday, August 12th. Royal Bank Of Canada lowered their target price on shares of AerSale from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Monday, August 10th. Finally, Wall Street Zen cut shares of AerSale from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $6.83.

AerSale Stock Down 0.4%

Shares of NASDAQ ASLE opened at $5.63 on Thursday. AerSale has a 1 year low of $5.52 and a 1 year high of $8.91. The firm has a 50-day simple moving average of $6.10 and a two-hundred day simple moving average of $6.47. The company has a market cap of $268.72 million, a P/E ratio of -70.38 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.

AerSale (NASDAQ:ASLE) last released its earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). AerSale had a negative net margin of 1.23% and a negative return on equity of 0.27%. The business had revenue of $70.93 million for the quarter, compared to the consensus estimate of $81.24 million. Research analysts anticipate that AerSale will post 0.03 earnings per share for the current year.

Insider Activity at AerSale

In other AerSale news, insider Gary Edmund Jones sold 7,491 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 transaction of $47,492.94. Following the transaction, the insider directly owned 162,405 shares in the company, valued at $1,029,647.70. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Martin Garmendia sold 6,094 shares of AerSale stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.34, for a total value of $38,635.96. Following the sale, the insider directly owned 183,377 shares of the company’s stock, valued at approximately $1,162,610.18. This trade represents a 3.22% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 21,316 shares of company stock worth $135,160. Company insiders own 20.10% of the company’s stock.

Hedge Funds Weigh In On AerSale

A number of hedge funds and other institutional investors have recently made changes to their positions in ASLE. Odyssean LLC bought a new stake in shares of AerSale in the second quarter valued at about $239,000. Raffles Associates LP bought a new position in AerSale during the 2nd quarter worth about $2,907,000. Bank of America Corp DE bought a new position in AerSale during the 2nd quarter worth about $158,000. Canada Pension Plan Investment Board bought a new position in AerSale during the 2nd quarter worth about $254,000. Finally, The Manufacturers Life Insurance Company purchased a new position in AerSale during the second quarter valued at approximately $65,000. Institutional investors own 69.48% of the company’s stock.

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.