Long Position on AL @ $39.00 on 6/26/2019 (Fundamentals)

Air Lease Corporation (AL) engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide.

The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines. In addition, it provides fleet management services to investors and owners of aircraft portfolios.

 As of December 31, 2018, the company owned a fleet of 275 aircraft, including 207 narrowbody jet aircraft and 68 widebody jet aircraft. 

On May 9th, Air Lease Corp. reported 1st Quarter March 2019 earnings of $1.23 per share on revenue of $466.1 million. The consensus earnings estimate was $1.22 per share on revenue of $459.1 million. Revenue grew 22.3% on a year-over-year basis.

Shares are heading higher in an upward trading channel. However, shares have pulled back and are nearing their 50-day moving average. We expect shares to find support around the $39 level. 

Entry Point: $39.00

Stop Loss: $37.00

Trading Range: $28.13 - $47.34

Target Price: $42.90

Updates

9/5/2019 9:50:07 AM

AL closed at $42.10

Position closed on 9/5/2019 at price of $42.10 with a 7.95% gain in 71 days.

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