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's primary source of revenue originates from the leasing of aircraft and to a certain extent from the provision of fleet management services to investors and owners of aircraft portfolios.

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

As of March 28, 2023, AL stock price climbed to $37.48 with 105,128 million shares trading.

AL has a beta of 1.26, meaning it tends to be more sensitive to market movements. AL has a correlation of 0.62 to the broad based SPY ETF.

AL has a market cap of $4.16 billion. This is considered a Mid Cap stock.

Last quarter Air Lease Class A reported $602 million in Revenue and $1.42 earnings per share. This beat revenue expectation by $13 million and exceeded earnings estimates by $.42.

In the last 3 years, AL stock traded as high as $52.96 and as low as $17.61.

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

AL has underperformed the market in the last year with a price return of -14.4% while the SPY ETF lost -11.3%. AL has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -1.2% and -1.7%, respectively, while the SPY returned +3.9% and +2.9%, respectively.

AL support price is $36.42 and resistance is $38.24 (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 stock will trade within this expected range on the day.