Vetr Inc. Downgrades American Airlines Group Inc. (AAL) to Sell
American Airlines Group Inc. (NASDAQ:AAL) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a report released on Tuesday. They currently have a $42.62 price target on the airline’s stock. Vetr‘s target price suggests a potential downside of 4.12% from the company’s current price.
A number of other research firms also recently issued reports on AAL. Imperial Capital reiterated an “in-line” rating and set a $43.00 price objective (up from $40.00) on shares of American Airlines Group in a report on Friday, October 21st. Wolfe Research set a $46.00 price target on American Airlines Group and gave the company a “buy” rating in a research note on Friday, October 21st. TheStreet upgraded American Airlines Group from a “hold” rating to a “buy” rating in a research note on Monday, October 31st. Sanford C. Bernstein assumed coverage on American Airlines Group in a research note on Monday, October 10th. They issued an “underperform” rating and a $31.00 price target for the company. Finally, Credit Suisse Group AG restated a “sell” rating and issued a $34.00 price target on shares of American Airlines Group in a research note on Tuesday, September 13th. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. American Airlines Group presently has an average rating of “Hold” and a consensus target price of $42.60.
American Airlines Group (NASDAQ:AAL) opened at 44.45 on Tuesday. The firm has a market capitalization of $23.03 billion, a price-to-earnings ratio of 4.61 and a beta of 0.88. The stock’s 50 day moving average price is $39.73 and its 200-day moving average price is $35.21. American Airlines Group has a one year low of $24.85 and a one year high of $46.49.
American Airlines Group (NASDAQ:AAL) last released its quarterly earnings results on Thursday, October 20th. The airline reported $2.80 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $1.23. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $5.43 billion. American Airlines Group had a return on equity of 95.17% and a net margin of 14.16%. American Airlines Group’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.77 earnings per share. On average, equities research analysts expect that American Airlines Group will post $5.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 21st. Stockholders of record on Monday, November 7th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.90%. American Airlines Group’s payout ratio is 4.30%.
In other news, CMO Andrew P. Nocella sold 171,383 shares of American Airlines Group stock in a transaction on Monday, October 31st. The stock was sold at an average price of $40.65, for a total value of $6,966,718.95. Following the transaction, the chief marketing officer now owns 307,719 shares in the company, valued at approximately $12,508,777.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Beverly K. Goulet sold 20,000 shares of American Airlines Group stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $37.50, for a total value of $750,000.00. Following the completion of the transaction, the executive vice president now owns 268,604 shares in the company, valued at approximately $10,072,650. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. American National Bank raised its stake in shares of American Airlines Group by 2.5% in the second quarter. American National Bank now owns 86,427 shares of the airline’s stock worth $2,446,000 after buying an additional 2,092 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in shares of American Airlines Group by 1.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 149,660 shares of the airline’s stock worth $4,237,000 after buying an additional 2,840 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of American Airlines Group during the first quarter worth $22,505,000. First Republic Investment Management Inc. raised its stake in shares of American Airlines Group by 115.0% in the first quarter. First Republic Investment Management Inc. now owns 26,975 shares of the airline’s stock worth $1,107,000 after buying an additional 14,427 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of American Airlines Group during the first quarter worth $5,667,000. Institutional investors own 75.90% 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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