Air Lease Corporation (AL) has risen sharply, recording gains of 5.8% in the past 4 weeks. However, the stock has corrected -1.77% 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 2.36% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.05% and the 50-Day Moving Average is 1.67%. Air Lease Corporation has dropped 5.32% during the last 3-month period . Year-to-Date the stock performance stands at -13.67%.
Air Lease Corporation (NYSE:AL): On Fridays trading session , Opening price of the stock was $28.87 with an intraday high of $29.01. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $28.575. However, the stock managed to close at $28.81, a loss of 0.28% for the day. On the previous day, the stock had closed at $28.89. The total traded volume of the day was 1,161,230 shares.
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.