Air Lease Corporation (AL): Technicals Say You should Hold

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Air Lease Corporation (NYSE:AL) saw an upside of 0.63% to close Friday at $35.02 after adding $0.22 on the day. The 5-day average trading volume is 436,880 shares of the company’s common stock. It has gained $35.69 in the past week and touched a new high 4 times within the past 5 days. An average of 455,505 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 474,938.

AL’s 1-month performance is 11.32% or $3.12 on its low of $30.26 reached on 10/13/22. The company’s shares have touched a 52-week low of $29.75 and high of $50.99, with the stock’s rally to the 52-week high happening on 04/21/22. YTD, AL has lost -20.82% or -$9.21 and has reached a new high 6 times. However, the current price is down -31.32% from the 52-week high price.


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Insider Transactions

AL stock investors last saw insider trading activity on May 12.Khatibi Alex A (EVP) most recently sold 13,600 shares at $45.25 per share on Nov 24. This transaction cost the insider $615,365. EVP, Khatibi Alex A, sold 15,625 shares at a price of $45.50 on Nov 17.

Valuation Metrics

AL stock has a beta of 1.80. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.70 while the price-to-book (PB) in the most recent quarter is 0.60, with the price to cash flow ratio at 3.35.

As well, the company’s long term debt to equity for the quarter ending June 29 was 2.85, while the total debt to equity was 2.85. The firm’s gross profit as reported stood at $1.55 billion against revenue of $2.09 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 19.14% to $105.85 million, while revenue of -$479.42 million was 552.92% off the previous quarter. Analysts expected AL to announce $0.94 per share in earnings in its latest quarter, but it posted $0.95, representing a 1.10% surprise. EBITDA for the quarter stood at more than $536.2 million. AL stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 21.21 billion, with total debt at $18.34 billion. Shareholders hold equity totaling $110.89 million.

Let’s look briefly at Air Lease Corporation (AL) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 28 October was 66.24% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.46%.

The stock’s 5-day moving average is $34.47, reflecting a +3.40% or $1.15 change from its current price. AL is currently trading +12.93% above its 20-day SMA, -7.87% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -12.67% and SMA200 by-23.10%.

Stochastic %K and %D was 85.47% and 87.56% and the average true range (ATR) pointed at 1.21. The RSI (14) points at 58.89%, while the 14-day stochastic is at 87.65% with the period’s ATR at 1.24. The stock’s 9-day MACD Oscillator is pointing at 0.84 and 1.57 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Air Lease Corporation (NYSE: AL), HSBC Securities launched coverage with a Buy rating.

What is AL’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $53.00 and a high of $60.00, with their median price target at $55.00. Looking at these predictions, the average price target given by analysts is for Air Lease Corporation (AL) stock is $55.14.

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