Sanford C. Bernstein Initiates Coverage on American Airlines Group Inc. (AAL)
Research 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 equities research analysts have also recently issued research reports about the company. Deutsche Bank AG upgraded American Airlines Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, July 12th. Buckingham Research reiterated a “buy” rating and issued a $44.00 price objective on shares of American Airlines Group in a report on Sunday, July 17th. Morgan Stanley set a $41.00 target price on American Airlines Group and gave the company a “buy” rating in a research note on Thursday, August 18th. Vetr cut American Airlines Group from a “strong-buy” rating to a “buy” rating and set a $41.42 target price for the company. in a research note on Tuesday, August 30th. Finally, Imperial Capital initiated coverage on American Airlines Group in a research note on Friday, August 26th. They issued an “in-line” rating and a $40.00 target price for the company. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $43.40.
Shares of American Airlines Group (NASDAQ:AAL) traded up 3.07% on Monday, reaching $38.89. The company’s stock had a trading volume of 6,938,366 shares. American Airlines Group has a 52-week low of $24.85 and a 52-week high of $47.09. The stock has a 50-day moving average of $36.65 and a 200 day moving average of $35.02. The company has a market cap of $20.61 billion, a price-to-earnings ratio of 3.67 and a beta of 0.97.
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American Airlines Group (NASDAQ:AAL) last released its quarterly earnings data on Friday, July 22nd. The airline reported $1.77 earnings per share for the quarter, topping the consensus estimate 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 business earned $10.40 billion during the quarter, compared to analysts’ expectations of $10.27 billion. During the same quarter last year, the business posted $2.62 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, equities research analysts forecast that American Airlines Group will post $5.44 earnings per share for the current year.
In related news, EVP Beverly K. Goulet sold 20,000 shares of American Airlines Group stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $32.75, for a total transaction of $655,000.00. Following the transaction, the executive vice president now directly owns 308,604 shares in the company, valued at $10,106,781. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maya Leibman sold 10,000 shares of American Airlines Group stock in a transaction on Wednesday, September 14th. The shares were 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 $7,155,600.38. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in AAL. Cribstone Capital Management LLC acquired a new position in shares of American Airlines Group during the second quarter valued at approximately $108,000. Zions Bancorporation increased its position in shares of American Airlines Group by 4,368.9% in the first quarter. Zions Bancorporation now owns 4,022 shares of the airline’s stock valued at $165,000 after buying an additional 3,932 shares during the last quarter. Westbourne Investment Advisors Inc. acquired a new position in shares of American Airlines Group during the second quarter valued at approximately $115,000. Checchi Capital Advisers LLC increased its position in shares of American Airlines Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 4,145 shares of the airline’s stock valued at $117,000 after buying an additional 37 shares during the last quarter. Finally, Evercore Wealth Management LLC increased its position in shares of American Airlines Group by 60.1% in the second quarter. Evercore Wealth Management LLC now owns 4,601 shares of the airline’s stock valued at $130,000 after buying an additional 1,727 shares during the last quarter. 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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