Air Lease (NYSE:AL) Price Target Raised to $56.00 at JPMorgan Chase & Co.

Air Lease (NYSE:AL) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $52.00 to $56.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 15.70% from the stock’s current price.

AL has been the topic of a number of other research reports. TD Cowen started coverage on Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 target price on the stock. Barclays lowered their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.75.

Air Lease Price Performance

Shares of AL stock traded up $0.04 during trading on Tuesday, hitting $48.40. The company had a trading volume of 74,851 shares, compared to its average volume of 966,417. The stock’s 50-day moving average is $44.42 and its two-hundred day moving average is $46.20. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.40 and a beta of 1.59. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. Air Lease has a 52 week low of $36.58 and a 52 week high of $52.31.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AL. Janney Montgomery Scott LLC increased its holdings in Air Lease by 23.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the transportation company’s stock valued at $748,000 after purchasing an additional 2,765 shares during the period. Mutual of America Capital Management LLC bought a new stake in Air Lease in the first quarter valued at $915,000. Envestnet Portfolio Solutions Inc. raised its holdings in Air Lease by 1.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock worth $1,119,000 after purchasing an additional 291 shares in the last quarter. SG Americas Securities LLC bought a new position in Air Lease in the 1st quarter worth $131,000. Finally, Sei Investments Co. boosted its stake in shares of Air Lease by 1.3% during the 1st quarter. Sei Investments Co. now owns 284,903 shares of the transportation company’s stock valued at $14,655,000 after purchasing an additional 3,712 shares in the last quarter. 94.59% of the stock is 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.