Air Lease Corporation (AL) has been under a strong bear grip, hence the stock is down -1.96% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.49% in the past 1 week. The stock has risen by 2.66% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.49% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 0.45% and the 50-Day Moving Average is 0.63%.The 200 Day SMA reached 1.4%
Air Lease Corporation (NYSE:AL): After opening at $28.22, the stock dipped to an intraday low of $28.01 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $28.695 and the buying power remained strong till the end. The stock closed at $28.58 for the day, a gain of 2.03% for the day session. The total traded volume was 790,727. The stocks close on the previous trading day was $28.58.
Air Lease Corporation (AL) : The consensus price target for Air Lease Corporation (AL) is $43.13 for the short term with a standard deviation of $12.53. The most optimist securities analyst among the 8 who monitor the stock believes that the stock can reach $73, however, the pessimist price target for the company is $35.
Air Lease Corporation is an aircraft leasing company. The Company is engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus S.A.S. (Airbus), and leasing those aircrafts to airlines around the world. In addition to its leasing activities, it sells aircrafts from its operating lease portfolio to third-parties, including other leasing companies, financial services companies and airlines. It also provides fleet management services to investors and owners of aircraft portfolios. It provides aircrafts to airline customers in geographical regions, including markets, such as Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. The Company sells aircrafts that are operated by an airline with multiple years of lease term remaining on the contract.