AerSale (NASDAQ:ASLE) Price Target Cut to $10.00 by Analysts at Truist Financial

AerSale (NASDAQ:ASLE) had its price objective lowered by Truist Financial from $12.00 to $10.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

AerSale Stock Performance

NASDAQ ASLE traded down $0.05 on Thursday, hitting $5.16. 525,411 shares of the company’s stock traded hands, compared to its average volume of 479,425. The firm’s 50-day moving average price is $6.75 and its two-hundred day moving average price is $7.59. The firm has a market capitalization of $273.53 million, a PE ratio of -508.00 and a beta of 0.25. The company has a current ratio of 7.17, a quick ratio of 2.11 and a debt-to-equity ratio of 0.01. AerSale has a 1-year low of $4.88 and a 1-year high of $16.69.

AerSale (NASDAQ:ASLE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.15). AerSale had a negative return on equity of 0.87% and a net margin of 0.20%. The business had revenue of $77.10 million for the quarter, compared to analysts’ expectations of $87.66 million. During the same period last year, the business earned ($0.08) EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts expect that AerSale will post 0.32 EPS for the current year.

Institutional Trading of AerSale

A number of hedge funds have recently modified their holdings of ASLE. Capstone Investment Advisors LLC acquired a new position in AerSale in the fourth quarter valued at approximately $1,589,000. Vanguard Group Inc. grew its position in shares of AerSale by 17.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,415,492 shares of the company’s stock valued at $21,147,000 after acquiring an additional 209,409 shares during the period. GSA Capital Partners LLP purchased a new position in shares of AerSale in the 1st quarter valued at about $856,000. Ranger Investment Management L.P. raised its holdings in AerSale by 57.2% in the 4th quarter. Ranger Investment Management L.P. now owns 2,278,295 shares of the company’s stock worth $28,923,000 after purchasing an additional 828,836 shares during the period. Finally, Janus Henderson Group PLC boosted its position in AerSale by 21.1% during the first quarter. Janus Henderson Group PLC now owns 2,167,215 shares of the company’s stock worth $15,560,000 after purchasing an additional 377,397 shares in the last quarter. Hedge funds and other institutional investors own 69.48% of the company’s stock.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).