Truist Financial Trims AerSale (NASDAQ:ASLE) Target Price to $8.00

AerSale (NASDAQ:ASLE) had its target price dropped by research analysts at Truist Financial from $10.00 to $8.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 50.66% from the company’s previous close.

A number of other research firms also recently issued reports on ASLE. Stifel Nicolaus dropped their target price on shares of AerSale from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada lowered their price objective on shares of AerSale from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th.

AerSale Stock Performance

Shares of NASDAQ ASLE opened at $5.31 on Friday. AerSale has a 52-week low of $4.53 and a 52-week high of $16.69. The company’s 50 day moving average price is $5.05 and its 200-day moving average price is $6.32. The company has a market capitalization of $281.48 million, a P/E ratio of -531.00 and a beta of 0.23.

AerSale (NASDAQ:ASLE) last released its earnings results on Wednesday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.15). AerSale had a negative net margin of 0.07% and a negative return on equity of 0.95%. The company had revenue of $77.10 million for the quarter, compared to analyst estimates of $87.66 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. The firm’s revenue was up 11.3% on a year-over-year basis. Analysts forecast that AerSale will post 0.21 earnings per share for the current year.

Insider Transactions at AerSale

In other news, insider Nicolas Finazzo bought 20,000 shares of AerSale stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $5.36 per share, for a total transaction of $107,200.00. Following the purchase, the insider now directly owns 37,000 shares in the company, valued at $198,320. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 37.30% of the company’s stock.

Institutional Trading of AerSale

Several institutional investors have recently made changes to their positions in the company. nVerses Capital LLC grew its position in AerSale by 75.0% during the third quarter. nVerses Capital LLC now owns 4,900 shares of the company’s stock valued at $25,000 after buying an additional 2,100 shares during the period. California State Teachers Retirement System increased its holdings in AerSale by 9.3% during the first quarter. California State Teachers Retirement System now owns 29,579 shares of the company’s stock worth $212,000 after buying an additional 2,506 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in AerSale by 33.6% during the second quarter. The Manufacturers Life Insurance Company now owns 14,027 shares of the company’s stock worth $97,000 after buying an additional 3,531 shares during the last quarter. American International Group Inc. increased its holdings in AerSale by 30.5% during the first quarter. American International Group Inc. now owns 16,605 shares of the company’s stock worth $119,000 after buying an additional 3,878 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in AerSale by 12.8% during the second quarter. American Century Companies Inc. now owns 36,480 shares of the company’s stock worth $252,000 after buying an additional 4,134 shares during the last quarter. Institutional investors own 69.48% of the company’s stock.

AerSale Company Profile

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).