Raymond James Financial Inc. Downgrades American Airlines Group Inc. (AAL) to Market Perform
American Airlines Group Inc. (NASDAQ:AAL) was downgraded by stock analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday.
Several other analysts have also recently weighed in on AAL. Buckingham Research reiterated a “buy” rating and issued a $44.00 price target on shares of American Airlines Group in a report on Sunday, July 17th. JPMorgan Chase & Co. dropped their target price on shares of American Airlines Group from $50.50 to $41.50 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. Vetr cut shares of American Airlines Group from a “buy” rating to a “hold” rating and set a $38.72 target price on the stock. in a report on Tuesday, September 13th. Credit Suisse Group AG boosted their target price on shares of American Airlines Group from $29.00 to $34.00 and gave the company an “underperform” rating in a report on Monday, July 25th. Finally, Deutsche Bank AG boosted their target price on shares of American Airlines Group from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 25th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. American Airlines Group currently has an average rating of “Hold” and a consensus price target of $43.44.
American Airlines Group (NASDAQ:AAL) opened at 35.15 on Wednesday. American Airlines Group has a 12 month low of $24.85 and a 12 month high of $47.09. The firm has a market capitalization of $18.63 billion, a PE ratio of 3.32 and a beta of 0.97. The stock has a 50 day moving average of $36.08 and a 200 day moving average of $35.46.
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American Airlines Group (NASDAQ:AAL) last issued its earnings results on Friday, July 22nd. The airline reported $1.77 EPS for the quarter, topping the consensus estimate of $1.68 by $0.09. American Airlines Group had a net margin of 16.50% and a return on equity of 107.21%. The company had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the previous year, the firm earned $2.62 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts predict that American Airlines Group will post $5.43 earnings per share for the current fiscal year.
In other news, EVP Maya Leibman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $36.34, for a total transaction of $363,400.00. Following the completion of the sale, the executive vice president now owns 196,907 shares of the company’s stock, valued at approximately $7,155,600.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beverly K. Goulet sold 20,000 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $32.75, for a total transaction of $655,000.00. Following the sale, the executive vice president now directly owns 308,604 shares of the company’s stock, valued at approximately $10,106,781. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of American Airlines Group during the fourth quarter worth about $100,096,000. Douglas Lane & Associates LLC bought a new position in shares of American Airlines Group during the first quarter worth about $17,009,000. Glenmede Trust Co. NA increased its position in shares of American Airlines Group by 37.2% in the first quarter. Glenmede Trust Co. NA now owns 47,774 shares of the airline’s stock worth $1,959,000 after buying an additional 12,955 shares during the period. Telemus Capital LLC increased its position in shares of American Airlines Group by 1,170.1% in the first quarter. Telemus Capital LLC now owns 165,748 shares of the airline’s stock worth $6,797,000 after buying an additional 152,698 shares during the period. Finally, Aperio Group LLC increased its position in shares of American Airlines Group by 7.8% in the first quarter. Aperio Group LLC now owns 114,807 shares of the airline’s stock worth $4,708,000 after buying an additional 8,352 shares during the period. Institutional investors own 74.62% of the company’s stock.
About American Airlines Group
American Airlines Group Inc (AAG) is a holding company whose primary business activity is the operation of a network air carrier through its subsidiaries, American Airlines, Inc (American) and its regional subsidiaries, Envoy Aviation Group Inc (Envoy), Piedmont Airlines, Inc (Piedmont) and PSA Airlines, Inc (PSA).
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