Cowen and Company Reaffirms Outperform Rating for American Airlines Group, Inc. (AAL)
American Airlines Group, Inc. (NASDAQ:AAL)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen and Company in a research note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $55.00 price target on the airline’s stock, down from their prior price target of $57.00. Cowen and Company’s price target indicates a potential upside of 17.00% from the company’s current price.
AAL has been the subject of a number of other reports. Vetr upgraded American Airlines Group from a “buy” rating to a “strong-buy” rating and set a $53.62 price target for the company in a report on Tuesday, May 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $50.00 price target (up from $49.00) on shares of American Airlines Group in a report on Monday, July 10th. Atlantic Securities assumed coverage on American Airlines Group in a report on Tuesday, June 20th. They set an “underweight” rating and a $56.00 price target for the company. Bank of America Corporation increased their price target on American Airlines Group from $40.00 to $42.00 and gave the stock an “underperform” rating in a report on Friday, June 30th. Finally, Barclays PLC reiterated an “equal weight” rating on shares of American Airlines Group in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $57.28.
American Airlines Group (NASDAQ AAL) traded down 0.62% on Wednesday, reaching $46.71. The company’s stock had a trading volume of 1,197,973 shares. The company has a market cap of $22.75 billion, a P/E ratio of 11.60 and a beta of 0.98. American Airlines Group has a 12 month low of $33.90 and a 12 month high of $54.48. The stock’s 50 day moving average price is $47.27 and its 200 day moving average price is $46.76.
American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings data on Friday, July 28th. The airline reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.05. The business had revenue of $11.11 billion during the quarter, compared to the consensus estimate of $11.08 billion. American Airlines Group had a return on equity of 83.58% and a net margin of 5.02%. American Airlines Group’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 earnings per share. Equities research analysts forecast that American Airlines Group will post $4.86 earnings per share for the current year.
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In other news, EVP Elise R. Eberwein sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $50.35, for a total transaction of $2,517,500.00. Following the completion of the sale, the executive vice president now owns 312,368 shares in the company, valued at approximately $15,727,728.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Maya Leibman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $47.97, for a total transaction of $479,700.00. Following the sale, the executive vice president now owns 161,476 shares of the company’s stock, valued at approximately $7,746,003.72. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AAL. MCF Advisors LLC purchased a new position in American Airlines Group in the 2nd quarter valued at approximately $106,000. Westside Investment Management Inc. grew its stake in American Airlines Group by 3.5% in the 2nd quarter. Westside Investment Management Inc. now owns 2,116 shares of the airline’s stock valued at $111,000 after buying an additional 72 shares in the last quarter. First Manhattan Co. grew its stake in American Airlines Group by 3.3% in the 2nd quarter. First Manhattan Co. now owns 2,380 shares of the airline’s stock valued at $119,000 after buying an additional 75 shares in the last quarter. WFG Advisors LP grew its stake in American Airlines Group by 28.1% in the 2nd quarter. WFG Advisors LP now owns 2,367 shares of the airline’s stock valued at $119,000 after buying an additional 519 shares in the last quarter. Finally, D. Scott Neal Inc. purchased a new position in American Airlines Group in the 2nd quarter valued at approximately $120,000. Institutional investors and hedge funds own 81.53% of the company’s stock.
About American Airlines Group
American Airlines Group Inc is a holding company. The Company’s primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The Company operates through American segment, which provides air transportation for passengers and cargo.
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