Air Lease Corporation (AL) has risen sharply, recording gains of 4.49% in the past 4 weeks. However, the stock has corrected -1.39% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.95% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Air Lease Corporation (NYSE:AL): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.91 and $28.07 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.99. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.41, notching a gain of 2.38% for the day. The total traded volume was 1,564,670 . The stock had closed at $27.75 on the previous day.
The stock has recorded a 20-day Moving Average of 1% and the 50-Day Moving Average is 0.71%. Air Lease Corporation has dropped 11.13% during the last 3-month period . Year-to-Date the stock performance stands at -14.87%.
Air Lease Corporation (AL) : Currently there are 8 street experts covering Air Lease Corporation (AL) stock. The most bullish and bearish price target for the stock is $73 and $34 respectively for the short term. The average price target of all the analysts comes to $43.25. The estimated standard deviation from the target is $12.46.
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.