Air Lease Corporation Class A (NYSE:AL) traded today at a new 52-week high of $47.28. Approximately 209,000 shares have changed hands today, as compared to an average 30-day volume of 774,000 shares.
Over the past year, Air Lease Corporation Class A has traded in a range of $8.41 to $47.28 and is now at $47.16, 461% above that low.
Air Lease Corp is an aircraft leasing company based in the United States. However, it derives most of its revenue from the European 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 leasing of aircrafts and to a certain extent from the provision of fleet management services to investors and owners of aircraft portfolios.
Based on a current price of $47.16, Air Lease Corporation Class A is currently 5.0% above its average consensus analyst price target of $44.79.
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