Air Lease (NYSE:AL) Reaches New 12-Month High – What’s Next?

Air Lease Co. (NYSE:AL)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $52.31 and last traded at $52.16, with a volume of 772747 shares changing hands. The stock had previously closed at $50.64.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. TD Cowen assumed coverage on Air Lease in a report on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday. Barclays cut their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.60.

Air Lease Price Performance

The firm has a market capitalization of $5.81 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 1.57 and a beta of 1.59. The business has a 50-day moving average of $45.48 and a 200 day moving average of $46.10. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, December 12th. Air Lease’s dividend payout ratio (DPR) is presently 20.05%.

Hedge Funds Weigh In On Air Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Air Lease during the 1st quarter valued at $131,000. American International Group Inc. raised its stake in Air Lease by 562.9% in the first quarter. American International Group Inc. now owns 5,641 shares of the transportation company’s stock valued at $290,000 after purchasing an additional 4,790 shares in the last quarter. SVB Wealth LLC bought a new stake in Air Lease during the first quarter valued at approximately $209,000. Caxton Associates LP purchased a new position in Air Lease in the 1st quarter worth approximately $774,000. Finally, Innealta Capital LLC bought a new position in shares of Air Lease in the 1st quarter worth $208,000. 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.