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 report issued on Wednesday.
Several other research analysts also recently commented on the company. Vetr downgraded American Airlines Group from a “strong-buy” rating to a “buy” rating and set a $41.42 price target on the stock. in a research report on Tuesday, August 30th. JPMorgan Chase & Co. dropped their price target on American Airlines Group from $50.50 to $41.50 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. Bank of America Corp. reaffirmed an “underperform” rating and issued a $29.00 price target (up from $27.00) on shares of American Airlines Group in a research report on Friday, July 15th. Imperial Capital started coverage on American Airlines Group in a research report on Friday, August 26th. They issued an “in-line” rating and a $40.00 price target on the stock. Finally, Morgan Stanley set a $41.00 price target on American Airlines Group and gave the stock a “buy” rating in a research report on Thursday, August 18th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.44.
Shares of American Airlines Group (NASDAQ:AAL) opened at 35.25 on Wednesday. The stock’s 50 day moving average is $36.16 and its 200-day moving average is $35.45. American Airlines Group has a 52-week low of $24.85 and a 52-week high of $47.09. The firm has a market cap of $18.68 billion, a P/E ratio of 3.33 and a beta of 0.97.
American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Friday, July 22nd. The airline reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.09. The business earned $10.40 billion during the quarter, compared to analyst estimates of $10.27 billion. American Airlines Group had a return on equity of 107.21% and a net margin of 16.50%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.62 EPS. Equities analysts anticipate that American Airlines Group will post $5.43 earnings per share for the current fiscal year.
In other American Airlines Group news, EVP Maya Leibman sold 10,000 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $36.34, for a total value of $363,400.00. Following the completion of the sale, the executive vice president now directly owns 196,907 shares in the company, valued at $7,155,600.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beverly K. Goulet sold 20,000 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $37.50, for a total value of $750,000.00. Following the completion of the sale, the executive vice president now owns 268,604 shares of the company’s stock, valued at $10,072,650. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. Evercore Wealth Management LLC increased its stake 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 period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of American Airlines Group during the second quarter valued at about $661,000. Kentucky Retirement Systems acquired a new stake in shares of American Airlines Group during the second quarter valued at about $1,392,000. Mason Street Advisors LLC acquired a new stake in shares of American Airlines Group during the second quarter valued at about $2,205,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of American Airlines Group by 1,475.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 12,179 shares of the airline’s stock valued at $345,000 after buying an additional 11,406 shares during the period. Institutional investors own 74.62% of the company’s stock.
American Airlines Group Company Profile
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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