Air Lease Co. (NYSE:AL) Receives $57.60 Average Price Target from Brokerages

Air Lease Co. (NYSE:AL - Get Free Report) has received an average recommendation of "Buy" from the five brokerages that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $57.60.

Several brokerages recently weighed in on AL. The Goldman Sachs Group restated a "buy" rating and set a $65.00 target price on shares of Air Lease in a report on Thursday, November 21st. JPMorgan Chase & Co. raised their target price on shares of Air Lease from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th.

Institutional Investors Weigh In On Air Lease

Several institutional investors and hedge funds have recently bought and sold shares of AL. State Street Corp raised its holdings in shares of Air Lease by 0.8% during the third quarter. State Street Corp now owns 3,410,373 shares of the transportation company's stock valued at $155,180,000 after acquiring an additional 25,874 shares in the last quarter. Royce & Associates LP raised its holdings in Air Lease by 2.5% in the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company's stock worth $130,232,000 after purchasing an additional 70,299 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Air Lease by 43.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock worth $134,332,000 after purchasing an additional 842,780 shares during the period. Copeland Capital Management LLC boosted its stake in shares of Air Lease by 0.7% during the 3rd quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company's stock valued at $82,926,000 after purchasing an additional 12,441 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Air Lease by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company's stock valued at $73,858,000 after buying an additional 6,190 shares during the period. Hedge funds and other institutional investors own 94.59% of the company's stock.

Air Lease Trading Down 0.5 %

NYSE AL traded down $0.23 during trading on Tuesday, hitting $46.01. 497,053 shares of the company's stock traded hands, compared to its average volume of 620,038. The firm has a market cap of $5.12 billion, a P/E ratio of 10.48, a PEG ratio of 1.00 and a beta of 1.59. The stock has a fifty day moving average of $47.90 and a two-hundred day moving average of $46.34. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. Air Lease has a 12-month low of $39.35 and a 12-month high of $52.31.

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.