American Airlines Group (NASDAQ:AAL) Shares Gap Down on Analyst Downgrade

Shares of American Airlines Group Inc. (NASDAQ:AAL) gapped down prior to trading on Wednesday after TD Cowen lowered their price target on the stock from $16.00 to $10.00. The stock had previously closed at $14.11, but opened at $13.50. TD Cowen currently has a market perform rating on the stock. American Airlines Group shares last traded at $13.51, with a volume of 7,772,840 shares changing hands.

Several other equities research analysts also recently issued reports on AAL. Royal Bank of Canada upgraded shares of American Airlines Group to an “outperform” rating in a research note on Tuesday, June 6th. Bank of America increased their target price on shares of American Airlines Group from $9.50 to $11.00 and gave the company an “underperform” rating in a research note on Monday, June 26th. Evercore ISI lowered their price target on American Airlines Group from $19.00 to $17.00 and set an “in-line” rating on the stock in a research note on Monday, August 28th. Jefferies Financial Group raised their price objective on American Airlines Group from $15.00 to $20.00 in a research report on Tuesday, July 11th. Finally, Redburn Partners cut shares of American Airlines Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.47.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in American Airlines Group in the first quarter worth about $25,000. Bartlett & Co. LLC acquired a new stake in shares of American Airlines Group during the 1st quarter worth approximately $27,000. Salem Investment Counselors Inc. raised its stake in shares of American Airlines Group by 7,692.3% during the second quarter. Salem Investment Counselors Inc. now owns 2,026 shares of the airline’s stock worth $36,000 after buying an additional 2,000 shares during the last quarter. Kalos Management Inc. acquired a new position in American Airlines Group in the first quarter valued at approximately $31,000. Finally, EverSource Wealth Advisors LLC boosted its stake in American Airlines Group by 130.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the airline’s stock valued at $34,000 after acquiring an additional 1,300 shares during the last quarter. 58.50% of the stock is owned by institutional investors.

American Airlines Group Trading Down 0.4 %

The business’s fifty day simple moving average is $15.91 and its 200 day simple moving average is $15.24. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 3.55, a price-to-earnings-growth ratio of 0.08 and a beta of 1.56.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings data on Thursday, July 20th. The airline reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.33. American Airlines Group had a negative return on equity of 45.44% and a net margin of 4.98%. The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.74 billion. During the same period in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that American Airlines Group Inc. will post 3.09 earnings per share for the current year.

American Airlines Group Company Profile

American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC, as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo.