Brokerages Set Air Lease Co. (NYSE:AL) Price Target at $57.60

Shares of Air Lease Co. (NYSE:AL) have been assigned a consensus recommendation of “Buy” from the five brokerages that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $57.60.

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group reissued a “buy” rating and set a $65.00 price target on shares of Air Lease in a research report on Thursday, November 21st.

Institutional Investors Weigh In On Air Lease

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in Air Lease by 381.7% during the second quarter. SG Americas Securities LLC now owns 12,255 shares of the transportation company’s stock valued at $582,000 after acquiring an additional 9,711 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Air Lease by 10.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 23,961 shares of the transportation company’s stock valued at $1,139,000 after acquiring an additional 2,204 shares during the period. Blue Trust Inc. purchased a new stake in Air Lease during the second quarter valued at about $325,000. Neo Ivy Capital Management purchased a new stake in Air Lease during the second quarter valued at about $791,000. Finally, Louisiana State Employees Retirement System grew its position in Air Lease by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 52,100 shares of the transportation company’s stock valued at $2,476,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

Air Lease stock opened at $48.57 on Monday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a fifty day moving average of $47.75 and a two-hundred day moving average of $46.34. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.55 and a beta of 1.61. Air Lease has a fifty-two week low of $39.15 and a fifty-two week high of $52.31.

Air Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s payout ratio is currently 20.05%.

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.