Air Lease (NYSE:AL) Shares Gap Down - Here's What Happened

Air Lease Co. (NYSE:AL - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $46.30, but opened at $45.20. Air Lease shares last traded at $45.66, with a volume of 114,030 shares changing hands.

Analyst Ratings Changes

Several research firms have weighed in on AL. UBS Group set a $50.00 target price on Air Lease in a research report on Friday. The Goldman Sachs Group restated a "buy" rating and issued a $65.00 price target on shares of Air Lease in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Finally, Bank of America downgraded Air Lease from a "buy" rating to an "underperform" rating and cut their price target for the stock from $72.00 to $50.00 in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Air Lease has an average rating of "Moderate Buy" and an average price target of $55.67.

Air Lease Trading Up 0.9 %

The firm has a market capitalization of $4.87 billion, a PE ratio of 13.14, a PEG ratio of 1.33 and a beta of 1.60. The company's 50-day moving average price is $46.95 and its 200-day moving average price is $46.64. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly 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 return on equity of 8.01% and a net margin of 15.65%. On average, sell-side analysts expect that Air Lease Co. will post 5.16 earnings per share for the current year.

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Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease's dividend payout ratio (DPR) is 26.43%.

Institutional Trading of Air Lease

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new position in shares of Air Lease in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in Air Lease in the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Air Lease during the third quarter worth about $31,000. Engine Capital Management LP purchased a new position in shares of Air Lease during the fourth quarter worth about $36,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of Air Lease by 5,245.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock worth $52,000 after purchasing an additional 1,049 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company's stock.

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.