Air Lease’s (AL) Buy Rating Reiterated at The Goldman Sachs Group

Air Lease (NYSE:AL)‘s stock had its “buy” rating reissued by research analysts at The Goldman Sachs Group in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $65.00 price target on the transportation company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 35.61% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Barclays reduced their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, TD Cowen began coverage on shares of Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.60.

Air Lease Trading Down 0.6 %

AL opened at $47.93 on Thursday. Air Lease has a fifty-two week low of $37.65 and a fifty-two week high of $52.31. The firm has a market capitalization of $5.34 billion, a PE ratio of 10.92, a P/E/G ratio of 1.49 and a beta of 1.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The company’s 50-day moving average is $45.20 and its 200 day moving average is $46.11.

Hedge Funds Weigh In On Air Lease

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AL. Vanguard Group Inc. lifted its stake in shares of Air Lease by 23.6% during the 1st quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock valued at $647,018,000 after buying an additional 2,404,649 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Air Lease in the second quarter worth $22,339,000. Loomis Sayles & Co. L P purchased a new position in shares of Air Lease in the third quarter valued at $18,289,000. Earnest Partners LLC raised its stake in shares of Air Lease by 19.4% during the 1st quarter. Earnest Partners LLC now owns 2,113,615 shares of the transportation company’s stock valued at $108,724,000 after purchasing an additional 343,360 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Air Lease by 42.6% during the 2nd quarter. Principal Financial Group Inc. now owns 760,160 shares of the transportation company’s stock worth $36,130,000 after purchasing an additional 227,274 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

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.