Vetr Inc. Upgrades American Airlines Group Inc. (AAL) to “Hold”
American Airlines Group Inc. (NASDAQ:AAL) was upgraded by equities research analysts at Vetr from a “sell” rating to a “hold” rating in a research report issued on Monday. The firm currently has a $47.00 price target on the airline’s stock. Vetr‘s price target indicates a potential upside of 2.00% from the stock’s current price.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of American Airlines Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 12th. Cowen and Company reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of American Airlines Group in a research note on Wednesday, August 31st. Buckingham Research reaffirmed a “buy” rating and issued a $49.00 price objective (up previously from $44.00) on shares of American Airlines Group in a research note on Tuesday, July 26th. Sanford C. Bernstein started coverage on shares of American Airlines Group in a research note on Monday, October 10th. They issued an “underperform” rating and a $31.00 price objective on the stock. Finally, Morgan Stanley set a $41.00 price objective on shares of American Airlines Group and gave the stock a “buy” rating in a research note on Thursday, August 18th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. American Airlines Group currently has a consensus rating of “Hold” and an average target price of $44.09.
American Airlines Group (NASDAQ:AAL) opened at 46.08 on Monday. The stock has a market cap of $23.88 billion, a P/E ratio of 4.78 and a beta of 0.88. American Airlines Group has a 52 week low of $24.85 and a 52 week high of $46.95. The company’s 50 day moving average is $40.79 and its 200 day moving average is $35.58.
American Airlines Group (NASDAQ:AAL) last released its earnings results on Thursday, October 20th. The airline reported $2.80 EPS for the quarter, beating the Thomson Reuters’ 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%. American Airlines Group’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $2.77 EPS. Equities analysts predict that American Airlines Group will post $5.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 21st. Stockholders of record on Monday, November 7th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, November 3rd. American Airlines Group’s dividend payout ratio is 4.30%.
In other news, EVP Elise R. Eberwein sold 89,556 shares of American Airlines Group stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $44.85, for a total value of $4,016,586.60. Following the transaction, the executive vice president now owns 440,510 shares of the company’s stock, valued at $19,756,873.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Andrew P. Nocella sold 171,383 shares of American Airlines Group stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now directly owns 307,719 shares in the company, valued at approximately $12,508,777.35. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Van Hulzen Asset Management LLC bought a new position in shares of American Airlines Group during the third quarter worth about $106,000. Cribstone Capital Management LLC bought a new position in shares of American Airlines Group during the second quarter worth about $108,000. Westbourne Investment Advisors Inc. bought a new position in shares of American Airlines Group during the second quarter worth about $115,000. Checchi Capital Advisers LLC raised its position in shares of American Airlines Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 4,145 shares of the airline’s stock worth $117,000 after buying an additional 37 shares during the period. Finally, Evercore Wealth Management LLC raised its position 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 worth $130,000 after buying an additional 1,727 shares during the period. 75.78% of the stock is currently owned by institutional investors.
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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