Morgan Stanley Cuts American Airlines Group, Inc. (AAL) Price Target to $51.00
American Airlines Group, Inc. (NASDAQ:AAL) had its price target lowered by Morgan Stanley from $52.00 to $51.00 in a research report sent to investors on Friday, Marketbeat reports. The brokerage currently has an equal weight rating on the airline’s stock.
Several other analysts have also recently commented on the company. BidaskClub upgraded American Airlines Group from a buy rating to a strong-buy rating in a research report on Saturday, July 8th. Vetr upgraded American Airlines Group from a buy rating to a strong-buy rating and set a $53.62 price target for the company in a research report on Tuesday, May 23rd. Sanford C. Bernstein restated a market perform rating and issued a $52.00 target price on shares of American Airlines Group in a report on Thursday, July 13th. Imperial Capital restated an in-line rating and issued a $43.00 target price on shares of American Airlines Group in a report on Friday, May 19th. Finally, Bank of America Corporation upped their target price on American Airlines Group from $40.00 to $42.00 and gave the company an underperform rating in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. American Airlines Group currently has an average rating of Hold and an average target price of $56.21.
Shares of American Airlines Group (NASDAQ:AAL) opened at 45.31 on Friday. American Airlines Group has a 12-month low of $33.90 and a 12-month high of $54.48. The company has a 50-day moving average of $48.78 and a 200 day moving average of $46.84. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 11.25 and a beta of 0.98.
American Airlines Group (NASDAQ:AAL) last issued its quarterly earnings results on Friday, July 28th. The airline reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.05. American Airlines Group had a return on equity of 83.58% and a net margin of 5.02%. The firm had revenue of $11.11 billion during the quarter, compared to analysts’ expectations of $11.08 billion. During the same period in the previous year, the business earned $1.77 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts predict that American Airlines Group will post $5.12 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 14th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.88%. American Airlines Group’s payout ratio is currently 9.88%.
In related news, EVP Maya Leibman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $47.97, for a total transaction of $479,700.00. Following the transaction, the executive vice president now owns 161,476 shares in the company, valued at approximately $7,746,003.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elise R. Eberwein sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $50.35, for a total value of $2,517,500.00. Following the transaction, the executive vice president now owns 312,368 shares in the company, valued at approximately $15,727,728.80. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC purchased a new position in shares of American Airlines Group in the 2nd quarter valued at approximately $106,000. Westside Investment Management Inc. grew its stake in shares of American Airlines Group by 3.5% in the 2nd quarter. Westside Investment Management Inc. now owns 2,116 shares of the airline’s stock valued at $111,000 after purchasing an additional 72 shares during the last quarter. First Manhattan Co. grew its stake in shares of American Airlines Group by 3.3% in the 2nd quarter. First Manhattan Co. now owns 2,380 shares of the airline’s stock valued at $119,000 after purchasing an additional 75 shares during the last quarter. WFG Advisors LP grew its stake in shares of American Airlines Group by 28.1% in the 2nd quarter. WFG Advisors LP now owns 2,367 shares of the airline’s stock valued at $119,000 after purchasing an additional 519 shares during the last quarter. Finally, D. Scott Neal Inc. purchased a new position in shares of American Airlines Group in the 2nd quarter valued at approximately $120,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.
About American Airlines Group
American Airlines Group Inc is a holding company. The Company’s primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The Company operates through American segment, which provides air transportation for passengers and cargo.
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