Air Lease (NYSE:AL) Downgraded by Bank of America to Underperform

Air Lease (NYSE:AL - Get Free Report) was downgraded by Bank of America from a "buy" rating to an "underperform" rating in a research note issued on Friday, Marketbeat reports. They presently have a $50.00 target price on the transportation company's stock, down from their prior target price of $72.00. Bank of America's price target would suggest a potential upside of 14.28% from the stock's previous close.

AL has been the subject of several other reports. JPMorgan Chase & Co. upped their target price on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. The Goldman Sachs Group restated a "buy" rating and issued a $65.00 price target on shares of Air Lease in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Air Lease presently has a consensus rating of "Moderate Buy" and an average target price of $55.67.

Air Lease Trading Up 0.9 %

Shares of Air Lease stock traded up $0.37 during mid-day trading on Friday, hitting $43.75. 1,028,340 shares of the stock were exchanged, compared to its average volume of 702,270. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.60. Air Lease has a twelve month low of $39.43 and a twelve month high of $52.31. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The company has a 50-day simple moving average of $46.95 and a 200 day simple moving average of $46.64.

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Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. Research analysts forecast that Air Lease will post 5.16 EPS for the current year.

Institutional Investors Weigh In On Air Lease

Institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Air Lease during the 4th quarter valued at $28,000. Wilmington Savings Fund Society FSB purchased a new position in Air Lease in the third quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Air Lease during the fourth quarter worth about $31,000. Engine Capital Management LP acquired a new position in shares of Air Lease during the fourth quarter worth about $36,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Air Lease by 5,245.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock worth $52,000 after buying an additional 1,049 shares during the period. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

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.