Cambiar Investors LLC Reduces Position in Air Lease Co. (NYSE:AL)

Cambiar Investors LLC trimmed its position in Air Lease Co. (NYSE:AL) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 144,964 shares of the transportation company’s stock after selling 1,585 shares during the period. Cambiar Investors LLC’s holdings in Air Lease were worth $6,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock worth $647,018,000 after purchasing an additional 2,404,649 shares during the last quarter. American Century Companies Inc. raised its position in Air Lease by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock worth $115,673,000 after buying an additional 115,293 shares during the last quarter. Earnest Partners LLC lifted its stake in Air Lease by 7.4% during the 2nd quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock valued at $107,859,000 after acquiring an additional 155,665 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Air Lease by 5.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock valued at $100,743,000 after acquiring an additional 101,568 shares during the period. Finally, Copeland Capital Management LLC increased its stake in shares of Air Lease by 0.7% in the third quarter. Copeland Capital Management LLC now owns 1,830,994 shares of the transportation company’s stock worth $82,926,000 after acquiring an additional 12,441 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analyst Weigh In

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

Air Lease Trading Up 0.9 %

AL stock opened at $44.76 on Friday. Air Lease Co. has a 52-week low of $35.21 and a 52-week high of $52.31. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. The firm has a market cap of $4.99 billion, a P/E ratio of 9.59, a PEG ratio of 1.35 and a beta of 1.59. The company’s 50-day simple moving average is $44.35 and its 200-day simple moving average is $46.41.

Air Lease (NYSE:AL) last issued its quarterly earnings results 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). The business had revenue of $667.29 million for the quarter, compared to analysts’ expectations of $687.93 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. As a group, equities analysts forecast that Air Lease Co. will post 4.83 EPS for the current fiscal year.

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.