Air Lease Co. (NYSE:AL) Receives Consensus Rating of "Buy" from Brokerages

Air Lease Co. (NYSE:AL - Get Free Report) has earned a consensus recommendation of "Buy" from the five research firms that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $57.60.

AL has been the topic of a number of research reports. The Goldman Sachs Group reissued a "buy" rating and issued a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. lifted their price objective on Air Lease from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, November 12th.

Institutional Trading of Air Lease

Several institutional investors and hedge funds have recently made changes to their positions in AL. Eastern Bank purchased a new position in Air Lease in the third quarter valued at about $27,000. Altshuler Shaham Ltd bought a new position in shares of Air Lease during the 2nd quarter worth approximately $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Air Lease during the third quarter valued at approximately $31,000. GAMMA Investing LLC lifted its position in Air Lease by 55.5% during the third quarter. GAMMA Investing LLC now owns 1,868 shares of the transportation company's stock valued at $85,000 after acquiring an additional 667 shares during the last quarter. Finally, KBC Group NV lifted its position in Air Lease by 20.0% during the third quarter. KBC Group NV now owns 3,345 shares of the transportation company's stock valued at $151,000 after acquiring an additional 557 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.

Air Lease Stock Performance

Air Lease stock traded up $0.33 during mid-day trading on Monday, reaching $49.75. 514,043 shares of the stock traded hands, compared to its average volume of 933,877. The stock has a market capitalization of $5.54 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The business's 50-day moving average is $47.23 and its 200-day moving average is $46.29. Air Lease has a 12-month low of $39.15 and a 12-month high of $52.31.

Air Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a $0.22 dividend. This is a boost from Air Lease's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease's dividend payout ratio (DPR) is presently 20.05%.

About Air Lease

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.