American Airlines Group (AAL) Cut to “Market Perform” at Wolfe Research

American Airlines Group (NASDAQ:AAL) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, The Fly reports.

Other equities analysts have also issued reports about the stock. Buckingham Research reduced their target price on shares of American Airlines Group from $57.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Citigroup reduced their target price on shares of American Airlines Group from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Macquarie set a $45.00 price objective on shares of American Airlines Group and gave the stock a “buy” rating in a research note on Monday, October 8th. Bank of America reduced their price objective on shares of American Airlines Group from $61.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Finally, JPMorgan Chase & Co. set a $53.00 price objective on shares of American Airlines Group and gave the stock a “buy” rating in a research note on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $50.53.

NASDAQ AAL traded down $3.37 on Friday, reaching $33.57. The company had a trading volume of 14,375,722 shares, compared to its average volume of 7,543,511. The firm has a market cap of $17.01 billion, a PE ratio of 6.88, a PEG ratio of 1.07 and a beta of 1.15. American Airlines Group has a 1-year low of $30.24 and a 1-year high of $59.08.

American Airlines Group (NASDAQ:AAL) last announced its earnings results on Thursday, October 25th. The airline reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.01. The firm had revenue of $11.56 billion during the quarter, compared to analyst estimates of $11.55 billion. American Airlines Group had a net margin of 3.06% and a return on equity of 568.86%. Analysts expect that American Airlines Group will post 4.56 earnings per share for the current fiscal year.

In other news, Director Jeffrey D. Benjamin bought 15,000 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were bought at an average cost of $35.69 per share, with a total value of $535,350.00. Following the acquisition, the director now owns 22,146 shares in the company, valued at $790,390.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Cahill bought 25,000 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was purchased at an average cost of $33.47 per share, for a total transaction of $836,750.00. Following the completion of the acquisition, the director now owns 6,531 shares in the company, valued at approximately $218,592.57. The disclosure for this purchase can be found here. Corporate insiders own 0.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new position in American Airlines Group in the 2nd quarter worth approximately $208,000. Piedmont Investment Advisors LLC acquired a new position in American Airlines Group in the 2nd quarter worth approximately $185,000. Commonwealth Equity Services LLC increased its holdings in American Airlines Group by 8.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 62,818 shares of the airline’s stock worth $2,385,000 after buying an additional 4,901 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in American Airlines Group by 4.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 407,454 shares of the airline’s stock worth $15,467,000 after buying an additional 16,937 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in American Airlines Group in the 2nd quarter worth approximately $757,000. 81.16% of the stock is currently owned by institutional investors.

About American Airlines Group

American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2017, the company operated a mainline fleet of 948 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, and Phoenix, as well as in Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.

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Analyst Recommendations for American Airlines Group (NASDAQ:AAL)

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