The Goldman Sachs Group Reaffirms Buy Rating for Air Lease (NYSE:AL)

The Goldman Sachs Group reiterated their buy rating on shares of Air Lease (NYSE:AL - Free Report) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $65.00 target price on the transportation company's stock.

Several other brokerages have also recently commented on AL. JPMorgan Chase & Co. boosted their price objective on shares of Air Lease from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. TD Cowen began coverage on Air Lease in a research report on Monday, July 29th. They issued a "buy" rating and a $58.00 price objective on the stock. Finally, Barclays dropped their price objective on Air Lease from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Air Lease has an average rating of "Moderate Buy" and an average price target of $57.60.

Air Lease Stock Performance

Shares of AL traded up $1.91 during trading hours on Thursday, hitting $49.83. The company's stock had a trading volume of 569,039 shares, compared to its average volume of 959,013. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.49 and a beta of 1.59. 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 has a 50 day simple moving average of $45.20 and a two-hundred day simple moving average of $46.11. Air Lease has a 52-week low of $37.65 and a 52-week high of $52.31.

Air Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.77%. This is an increase from Air Lease's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease's dividend payout ratio is 19.13%.

Institutional Trading of Air Lease

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Air Lease by 23.6% during the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company's stock valued at $647,018,000 after acquiring an additional 2,404,649 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Air Lease by 240.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 138,351 shares of the transportation company's stock worth $7,119,000 after buying an additional 97,703 shares in the last quarter. American Century Companies Inc. grew its holdings in Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company's stock valued at $115,673,000 after buying an additional 115,293 shares in the last quarter. Comerica Bank boosted its position in shares of Air Lease by 32.0% during the first quarter. Comerica Bank now owns 138,314 shares of the transportation company's stock worth $7,115,000 after acquiring an additional 33,524 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in Air Lease by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 227,921 shares of the transportation company's stock valued at $10,833,000 after acquiring an additional 16,281 shares in the last quarter. Institutional investors 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.