JPMorgan Chase & Co. Issues Positive Forecast for Air Lease (NYSE:AL) Stock Price

Air Lease (NYSE:AL - Free Report) had its price target upped by JPMorgan Chase & Co. from $56.00 to $57.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the transportation company's stock.

Separately, The Goldman Sachs Group reiterated a "buy" rating and issued a $65.00 price objective on shares of Air Lease in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.50.

Air Lease Stock Performance

Shares of NYSE AL traded down $2.97 during midday trading on Tuesday, reaching $47.65. 909,569 shares of the company were exchanged, compared to its average volume of 669,864. The stock has a market cap of $5.31 billion, a P/E ratio of 14.31, a PEG ratio of 1.19 and a beta of 1.59. Air Lease has a 1 year low of $39.39 and a 1 year high of $52.31. The stock has a fifty day simple moving average of $47.42 and a 200 day simple moving average of $46.40. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share 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, research analysts forecast that Air Lease will post 6.17 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.85%. 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

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in shares of Air Lease by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company's stock worth $259,574,000 after purchasing an additional 362,585 shares in the last quarter. State Street Corp grew its position in Air Lease by 0.8% during the third quarter. State Street Corp now owns 3,410,373 shares of the transportation company's stock worth $155,180,000 after buying an additional 25,874 shares during the period. American Century Companies Inc. increased its holdings in Air Lease by 13.7% in the fourth quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock valued at $155,570,000 after buying an additional 389,070 shares in the last quarter. Royce & Associates LP lifted its position in shares of Air Lease by 2.5% during the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company's stock valued at $130,232,000 after acquiring an additional 70,299 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Air Lease by 43.0% during 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 acquiring an additional 842,780 shares in the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

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.