American Airlines Group (AAL) Price Target Cut to $50.00 by Analysts at Bank of America

American Airlines Group (NASDAQ:AAL) had its price target reduced by Bank of America from $61.00 to $50.00 in a research report sent to investors on Wednesday. They currently have a buy rating on the airline’s stock.

A number of other equities research analysts also recently issued reports on AAL. BidaskClub downgraded shares of American Airlines Group from a sell rating to a strong sell rating in a research note on Tuesday, June 12th. Zacks Investment Research downgraded shares of American Airlines Group from a hold rating to a sell rating in a research note on Tuesday, June 12th. Buckingham Research reduced their price target on shares of American Airlines Group from $75.00 to $63.00 and set a buy rating on the stock in a research note on Wednesday, June 13th. ValuEngine downgraded shares of American Airlines Group from a sell rating to a strong sell rating in a research note on Monday, July 2nd. Finally, Deutsche Bank downgraded shares of American Airlines Group from a buy rating to a hold rating and reduced their price target for the company from $60.00 to $43.00 in a research note on Tuesday, July 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $52.15.

Shares of AAL stock opened at $30.91 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.46 and a debt-to-equity ratio of -25.16. American Airlines Group has a 12 month low of $30.75 and a 12 month high of $59.08. The stock has a market cap of $19.03 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 0.77 and a beta of 0.98.

American Airlines Group (NASDAQ:AAL) last released its quarterly earnings results on Thursday, July 26th. The airline reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.04. The business had revenue of $11.64 billion for the quarter, compared to the consensus estimate of $11.67 billion. American Airlines Group had a net margin of 3.75% and a return on equity of 151.06%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 EPS. On average, research analysts anticipate that American Airlines Group will post 4.66 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in AAL. Lansdowne Partners UK LLP grew its holdings in shares of American Airlines Group by 252.8% in the second quarter. Lansdowne Partners UK LLP now owns 5,984,069 shares of the airline’s stock valued at $227,147,000 after purchasing an additional 4,287,800 shares in the last quarter. Millennium Management LLC grew its holdings in shares of American Airlines Group by 999.2% in the second quarter. Millennium Management LLC now owns 1,811,194 shares of the airline’s stock valued at $68,753,000 after purchasing an additional 1,646,418 shares in the last quarter. Gendell Jeffrey L grew its holdings in shares of American Airlines Group by 46.8% in the second quarter. Gendell Jeffrey L now owns 1,551,339 shares of the airline’s stock valued at $58,889,000 after purchasing an additional 494,868 shares in the last quarter. Morgan Stanley grew its holdings in shares of American Airlines Group by 32.2% in the second quarter. Morgan Stanley now owns 1,954,583 shares of the airline’s stock valued at $74,196,000 after purchasing an additional 476,499 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of American Airlines Group by 368.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 585,000 shares of the airline’s stock valued at $22,207,000 after purchasing an additional 460,000 shares in the last quarter. Hedge funds and other institutional investors own 82.24% of the company’s stock.

American Airlines Group Company Profile

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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