American Airlines Group, Inc. (NASDAQ:AAL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “American Airlines' revenues in the third quarter rose 2.7% year over year. Strong demand for air travel coupled with improving yields drove the top line in the quarter. We are impressed by American Airlines' efforts to modernize its fleet. During the third quarter, the carrier invested more than $900 million on 13 new planes and three regional ones. The carrier's efforts to reward shareholders through share buybacks and dividend payments are also impressive. However, the carrier's earnings declined significantly in the third quarter due to higher costs and the recent hurricanes. American Airlines had to cancel approximately 8000 flights in the third quarter due to the hurricanes. With the company inking multiple labor deals, labor costs have spiked. American Airlines is also a highly leveraged company. Shares of the company have struggled so far this year.”
Several other analysts also recently issued reports on AAL. Morgan Stanley restated an “equal weight” rating and issued a $54.00 price target (up from $53.00) on shares of American Airlines Group in a research note on Monday, July 17th. Imperial Capital restated an “in-line” rating and issued a $49.00 price target (up from $43.00) on shares of American Airlines Group in a research note on Sunday, July 23rd. BidaskClub downgraded American Airlines Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Cowen and Company upgraded American Airlines Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $57.00 in a research note on Monday, July 31st. Finally, Buckingham Research restated a “buy” rating and issued a $70.00 price target (up from $68.00) on shares of American Airlines Group in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $58.47.
American Airlines Group (NASDAQ AAL) traded up $0.05 on Monday, reaching $45.82. The company had a trading volume of 2,433,000 shares, compared to its average volume of 6,186,272. The company has a market cap of $21,920.00, a P/E ratio of 9.41 and a beta of 0.97. American Airlines Group has a twelve month low of $39.21 and a twelve month high of $54.48. The company has a debt-to-equity ratio of 5.63, a current ratio of 0.65 and a quick ratio of 0.57.
American Airlines Group (NASDAQ:AAL) last released its quarterly earnings results on Thursday, October 26th. The airline reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The business had revenue of $10.88 billion during the quarter, compared to the consensus estimate of $10.88 billion. American Airlines Group had a return on equity of 64.92% and a net margin of 4.71%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 EPS. sell-side analysts predict that American Airlines Group will post 4.64 EPS for the current year.
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In other American Airlines Group news, Director Ray M. Robinson sold 3,476 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $46.76, for a total value of $162,537.76. Following the completion of the transaction, the director now owns 29,938 shares of the company’s stock, valued at approximately $1,399,900.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. MCF Advisors LLC acquired a new position in American Airlines Group in the 2nd quarter worth about $106,000. Westside Investment Management Inc. increased its holdings in American Airlines Group by 3.5% in the 2nd quarter. Westside Investment Management Inc. now owns 2,116 shares of the airline’s stock worth $111,000 after purchasing an additional 72 shares in the last quarter. WFG Advisors LP increased its holdings in American Airlines Group by 28.1% in the 2nd quarter. WFG Advisors LP now owns 2,367 shares of the airline’s stock worth $119,000 after purchasing an additional 519 shares in the last quarter. First Manhattan Co. increased its holdings in American Airlines Group by 3.3% in the 2nd quarter. First Manhattan Co. now owns 2,380 shares of the airline’s stock worth $119,000 after purchasing an additional 75 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in American Airlines Group by 516.8% in the 2nd quarter. IHT Wealth Management LLC now owns 2,387 shares of the airline’s stock worth $126,000 after purchasing an additional 2,000 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.
American Airlines Group Company Profile
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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