Royal Bank of Canada Downgrades AerSale (NASDAQ:ASLE) to Sector Perform

Posted by on Aug 9th, 2023

AerSale (NASDAQ:ASLE – Get Free Report) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, Briefing.com reports. They currently have a $15.00 target price on the stock, down from their prior target price of $20.00. Royal Bank of Canada’s price target would indicate a potential upside of 2.74% from the stock’s current price.

ASLE has been the topic of several other research reports. TheStreet lowered shares of AerSale from a “b-” rating to a “c+” rating in a report on Wednesday, April 26th. Stifel Nicolaus lowered their target price on shares of AerSale from $22.00 to $21.00 in a report on Wednesday, May 10th.

View Our Latest Stock Analysis on AerSale

AerSale Stock Performance

Shares of ASLE stock opened at $14.60 on Wednesday. AerSale has a 52-week low of $13.73 and a 52-week high of $21.76. The stock has a market cap of $747.81 million, a price-to-earnings ratio of 31.06 and a beta of 0.38. The firm has a fifty day moving average of $14.81 and a 200-day moving average of $16.52.

AerSale (NASDAQ:ASLE – Get Free Report) last posted its earnings results on Tuesday, May 9th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.08). AerSale had a return on equity of 7.49% and a net margin of 7.32%. The firm had revenue of $78.27 million during the quarter, compared to the consensus estimate of $86.51 million. On average, sell-side analysts predict that AerSale will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael Kirton sold 4,000,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $15.00, for a total value of $60,000,000.00. Following the transaction, the director now owns 13,569,821 shares of the company’s stock, valued at approximately $203,547,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 50.60% of the company’s stock.

Institutional Trading of AerSale

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in AerSale by 26.5% during the first quarter. Bank of New York Mellon Corp now owns 91,473 shares of the company’s stock worth $1,438,000 after acquiring an additional 19,163 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of AerSale in the first quarter valued at about $170,000. Rhumbline Advisers bought a new position in shares of AerSale in the first quarter valued at about $255,000. BlackRock Inc. raised its position in shares of AerSale by 55.4% in the first quarter. BlackRock Inc. now owns 917,919 shares of the company’s stock valued at $14,430,000 after purchasing an additional 327,380 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of AerSale by 73.8% in the first quarter. Vanguard Group Inc. now owns 855,520 shares of the company’s stock valued at $13,449,000 after purchasing an additional 363,292 shares during the period. Institutional investors own 69.48% of the company’s stock.

AerSale Company Profile

(Get Free Report)

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).

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