Sanford C. Bernstein Begins Coverage on American Airlines Group Inc. (AAL)
Investment analysts at Sanford C. Bernstein started coverage on shares of American Airlines Group Inc. (NASDAQ:AAL) in a research note issued on Monday. The firm set an “underperform” rating on the airline’s stock.
Other research analysts have also issued reports about the company. Buckingham Research reissued a “buy” rating and issued a $44.00 price objective on shares of American Airlines Group in a report on Sunday, July 17th. Bank of America Corp. lowered American Airlines Group from a “neutral” rating to an “underperform” rating in a report on Thursday, June 16th. JPMorgan Chase & Co. cut their price objective on American Airlines Group from $50.50 to $41.50 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. Deutsche Bank AG increased their price objective on American Airlines Group from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 25th. Finally, Raymond James Financial Inc. reissued an “outperform” rating on shares of American Airlines Group in a report on Wednesday, June 15th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. American Airlines Group currently has a consensus rating of “Hold” and a consensus price target of $43.40.
American Airlines Group (NASDAQ:AAL) traded up 3.07% on Monday, reaching $38.89. The company had a trading volume of 6,938,366 shares. The stock’s 50 day moving average is $36.65 and its 200-day moving average is $35.02. The stock has a market capitalization of $20.61 billion, a P/E ratio of 3.67 and a beta of 0.97. American Airlines Group has a 1-year low of $24.85 and a 1-year high of $47.09.
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American Airlines Group (NASDAQ:AAL) last released its quarterly earnings results on Friday, July 22nd. The airline reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. American Airlines Group had a return on equity of 107.21% and a net margin of 16.50%. The company earned $10.40 billion during the quarter, compared to analysts’ expectations of $10.27 billion. During the same period last year, the business posted $2.62 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, equities analysts predict that American Airlines Group will post $5.44 EPS for the current fiscal year.
In related news, EVP Beverly K. Goulet sold 20,000 shares of American Airlines Group stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $37.50, for a total transaction of $750,000.00. Following the transaction, the executive vice president now owns 268,604 shares in the company, valued at $10,072,650. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Maya Leibman sold 10,000 shares of American Airlines Group stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $36.34, for a total value of $363,400.00. Following the transaction, the executive vice president now owns 196,907 shares in the company, valued at approximately $7,155,600.38. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in AAL. Primecap Management Co. CA increased its position in shares of American Airlines Group by 28.6% in the second quarter. Primecap Management Co. CA now owns 35,432,161 shares of the airline’s stock worth $1,003,084,000 after buying an additional 7,883,585 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in American Airlines Group by 146.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,296,233 shares of the airline’s stock valued at $178,246,000 after buying an additional 3,745,807 shares during the period. Janus Capital Management LLC boosted its stake in American Airlines Group by 322.1% in the second quarter. Janus Capital Management LLC now owns 3,512,651 shares of the airline’s stock valued at $99,443,000 after buying an additional 2,680,375 shares during the period. FMR LLC boosted its stake in American Airlines Group by 28.6% in the second quarter. FMR LLC now owns 10,098,039 shares of the airline’s stock valued at $285,875,000 after buying an additional 2,243,176 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in American Airlines Group by 31.6% in the second quarter. BlackRock Fund Advisors now owns 9,217,078 shares of the airline’s stock valued at $260,935,000 after buying an additional 2,213,277 shares during the period. Hedge funds and other 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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