AL Stock Summary and Trading Ideas (Air Lease Class A | NYSE:AL)

Air Lease Corp is an aircraft leasing company based in the United States. However, it derives its revenue from the Asia region. Its business involves purchasing aircraft from renowned manufacturers such as The Boeing Company (Boeing) and Airbus S.A.S and leasing them to airline companies across the world. Its suite of aircraft entails single-aisle narrow-bodied jets and twin-aisle wide-bodied aircraft. The company earns from revenue originates from the renting of flight equipment. Geographically it operates in Asia Pacific, Europe, The Middle East and Africa, Central America, South America and Mexico and U.S. and Canada.

Air Lease Class A trades on the NYSE stock market under the symbol AL.

As of December 16, 2024, AL stock price declined to $49.27 with 9,607 million shares trading.

AL has a beta of 1.04, meaning it tends to be more sensitive to market movements. AL has a correlation of 0.16 to the broad based SPY ETF.

AL has a market cap of $5.49 billion. This is considered a Mid Cap stock.

Last quarter Air Lease Class A reported $690 million in Revenue and $1.25 earnings per share. This beat revenue expectation by $13 million and exceeded earnings estimates by $.46.

In the last 3 years, AL traded as high as $52.31 and as low as $29.75.

The top ETF exchange traded funds that AL belongs to (by Net Assets): IJR, VTI, AVUV, VB, VBR.

AL has underperformed the market in the last year with a price return of +26.2% while the SPY ETF gained +30.2%. However, in the short term, AL had mixed performance relative to the market. It has outperformed in the last 3 months, returning +13.4% vs +8.1% return in SPY. But in the last 2 weeks, AL shares have been beat by the market, returning -2.8% compared to an SPY return of +0.5%.

AL support price is $48.59 and resistance is $50.25 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AL shares will trade within this expected range on the day.