Air Lease Co. (NYSE:AL) Short Interest Update

Air Lease Co. (NYSE:AL) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 2,870,000 shares, a drop of 10.3% from the September 15th total of 3,200,000 shares. Based on an average daily volume of 766,800 shares, the days-to-cover ratio is presently 3.7 days. Currently, 2.8% of the shares of the company are short sold.

Air Lease Stock Performance

Shares of AL traded down $0.14 during trading hours on Thursday, hitting $44.93. The stock had a trading volume of 159,241 shares, compared to its average volume of 990,528. The stock has a fifty day moving average price of $44.27 and a 200 day moving average price of $46.80. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. Air Lease has a 12 month low of $33.33 and a 12 month high of $52.31. The firm has a market capitalization of $5.00 billion, a PE ratio of 9.08, a PEG ratio of 1.29 and a beta of 1.59.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.41). Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The company had revenue of $667.29 million during the quarter, compared to analysts’ expectations of $687.93 million. Analysts anticipate that Air Lease will post 4.83 EPS for the current year.

Air Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Friday, September 6th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 6th. This represents a $0.84 dividend on an annualized basis and a yield of 1.87%. Air Lease’s payout ratio is 16.94%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Barclays cut their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, TD Cowen initiated coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price for the company. 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, Air Lease currently has an average rating of “Moderate Buy” and an average target price of $54.75.

Hedge Funds Weigh In On Air Lease

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Air Lease by 44.3% during the fourth quarter. Wellington Management Group LLP now owns 4,584,168 shares of the transportation company’s stock worth $192,260,000 after acquiring an additional 1,407,902 shares during the period. Quadrature Capital Ltd boosted its holdings in Air Lease by 350.7% in the fourth quarter. Quadrature Capital Ltd now owns 25,551 shares of the transportation company’s stock worth $1,072,000 after purchasing an additional 19,882 shares during the period. Mather Group LLC. bought a new stake in Air Lease in the first quarter valued at $31,000. Alaska Permanent Fund Corp grew its stake in shares of Air Lease by 5.5% in the first quarter. Alaska Permanent Fund Corp now owns 60,418 shares of the transportation company’s stock worth $3,108,000 after purchasing an additional 3,143 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in Air Lease by 10.7% during the first quarter. Fulton Bank N.A. now owns 8,794 shares of the transportation company’s stock worth $452,000 after acquiring an additional 847 shares during the period. Institutional investors and hedge funds 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.