Janney Capital Management LLC Sells 396 Shares of Air Lease Co. (NYSE:AL)

Janney Capital Management LLC decreased its holdings in Air Lease Co. (NYSE:AL) by 3.9% in the third quarter, HoldingsChannel.com reports. The fund owned 9,824 shares of the transportation company’s stock after selling 396 shares during the quarter. Janney Capital Management LLC’s holdings in Air Lease were worth $445,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AL. First Trust Direct Indexing L.P. bought a new position in shares of Air Lease in the first quarter worth about $253,000. Janney Montgomery Scott LLC boosted its stake in Air Lease by 23.5% during the first quarter. Janney Montgomery Scott LLC now owns 14,540 shares of the transportation company’s stock valued at $748,000 after buying an additional 2,765 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in Air Lease during the first quarter valued at approximately $915,000. GSA Capital Partners LLP boosted its stake in Air Lease by 1.2% during the first quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock valued at $966,000 after buying an additional 217 shares during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in Air Lease during the first quarter valued at approximately $221,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Trading Up 0.9 %

Shares of AL stock opened at $44.76 on Monday. Air Lease Co. has a 1 year low of $35.21 and a 1 year high of $52.31. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. The stock’s 50 day simple moving average is $44.32 and its two-hundred day simple moving average is $46.37. The company has a market cap of $4.99 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.32 and a beta of 1.59.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen assumed coverage on Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price target for the company. JPMorgan Chase & Co. dropped their price target on Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Barclays dropped their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.75.

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.