American Airlines Group Inc. (AAL) Coverage Initiated at Citigroup Inc.
Analysts at Citigroup Inc. initiated coverage on shares of American Airlines Group Inc. (NASDAQ:AAL) in a research report issued to clients and investors on Friday. The firm set a “buy” rating and a $55.00 price target on the airline’s stock. Citigroup Inc.’s target price points to a potential upside of 19.36% from the stock’s previous close.
A number of other research firms have also recently weighed in on AAL. Deutsche Bank AG boosted their target price on shares of American Airlines Group from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 25th. Vetr upgraded shares of American Airlines Group from a “hold” rating to a “buy” rating and set a $41.57 target price on the stock in a research note on Monday, October 24th. Imperial Capital reiterated an “in-line” rating and issued a $43.00 target price (up from $40.00) on shares of American Airlines Group in a research note on Friday, October 21st. Wolfe Research set a $46.00 price target on shares of American Airlines Group and gave the company a “buy” rating in a research note on Friday, October 21st. Finally, Stifel Nicolaus dropped their price target on shares of American Airlines Group from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, October 12th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. American Airlines Group has a consensus rating of “Hold” and an average target price of $43.74.
American Airlines Group (NASDAQ:AAL) opened at 46.08 on Friday. American Airlines Group has a 12-month low of $24.85 and a 12-month high of $46.75. The stock’s 50 day moving average price is $40.56 and its 200 day moving average price is $35.48. The stock has a market cap of $23.88 billion, a price-to-earnings ratio of 4.78 and a beta of 0.88.
American Airlines Group (NASDAQ:AAL) last released its earnings results on Thursday, October 20th. The airline reported $2.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $1.23. The firm had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $5.43 billion. American Airlines Group had a net margin of 14.16% and a return on equity of 95.17%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.77 earnings per share. Analysts forecast that American Airlines Group will post $5.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Monday, November 7th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.40 annualized dividend and a yield of 0.87%. American Airlines Group’s payout ratio is currently 4.30%.
In other American Airlines Group news, EVP Maya Leibman sold 10,000 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $36.34, for a total transaction of $363,400.00. Following the completion of the sale, the executive vice president now owns 196,907 shares of the company’s stock, valued at approximately $7,155,600.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Andrew P. Nocella sold 171,383 shares of the stock in a transaction on Monday, October 31st. The shares were sold at an average price of $40.65, for a total transaction of $6,966,718.95. Following the sale, the chief marketing officer now directly owns 307,719 shares of the company’s stock, valued at approximately $12,508,777.35. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Van Hulzen Asset Management LLC purchased a new stake in shares of American Airlines Group during the third quarter valued at $106,000. Cribstone Capital Management LLC bought a new stake in American Airlines Group during the second quarter valued at approximately $108,000. Westbourne Investment Advisors Inc. bought a new stake in American Airlines Group during the second quarter valued at approximately $115,000. Checchi Capital Advisers LLC boosted its stake in American Airlines Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 4,145 shares of the airline’s stock valued at $117,000 after buying an additional 37 shares in the last quarter. Finally, Evercore Wealth Management LLC boosted its stake in 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 in the last quarter. 75.78% of the stock is owned by institutional investors and hedge funds.
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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