American Airlines Group (AAL) Upgraded to “Buy” by Bank of America

Bank of America upgraded shares of American Airlines Group (NASDAQ:AAL) from an underperform rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat reports. Bank of America currently has $64.00 target price on the airline’s stock.

Several other research analysts also recently commented on AAL. Morgan Stanley reiterated an equal weight rating and issued a $51.00 target price (up previously from $47.00) on shares of American Airlines Group in a report on Monday, October 2nd. BidaskClub downgraded shares of American Airlines Group from a buy rating to a hold rating in a report on Friday, January 5th. Cowen reiterated an outperform rating and issued a $55.00 target price on shares of American Airlines Group in a report on Tuesday, September 26th. Zacks Investment Research downgraded shares of American Airlines Group from a hold rating to a strong sell rating in a report on Monday, October 2nd. Finally, Barclays restated a hold rating and set a $55.00 price objective on shares of American Airlines Group in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $60.16.

Shares of American Airlines Group (NASDAQ AAL) traded up $1.70 on Tuesday, reaching $53.78. 7,650,000 shares of the company traded hands, compared to its average volume of 4,110,000. The company has a market cap of $25,730.00, a P/E ratio of 13.68 and a beta of 0.99. American Airlines Group has a 12-month low of $39.21 and a 12-month high of $54.48. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 5.63.

American Airlines Group (NASDAQ:AAL) last announced its earnings results on Thursday, October 26th. The airline reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. The firm had revenue of $10.88 billion for the quarter, compared to the consensus estimate of $10.88 billion. American Airlines Group had a net margin of 4.71% and a return on equity of 64.92%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 EPS. equities research analysts forecast that American Airlines Group will post 4.66 EPS for the current year.

In other news, CEO W Douglas Parker sold 224,572 shares of American Airlines Group stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $52.32, for a total transaction of $11,749,607.04. Following the sale, the chief executive officer now directly owns 1,925,242 shares in the company, valued at approximately $100,728,661.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alberto Ibarguen sold 4,229 shares of American Airlines Group stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $47.60, for a total transaction of $201,300.40. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of American Airlines Group by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 30,304,361 shares of the airline’s stock valued at $1,524,915,000 after acquiring an additional 93,279 shares in the last quarter. Carmignac Gestion boosted its position in American Airlines Group by 0.3% in the second quarter. Carmignac Gestion now owns 4,223,251 shares of the airline’s stock valued at $212,514,000 after buying an additional 13,700 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in American Airlines Group by 1.8% in the second quarter. Brandywine Global Investment Management LLC now owns 3,705,246 shares of the airline’s stock valued at $186,448,000 after buying an additional 64,713 shares in the last quarter. Boston Partners acquired a new position in American Airlines Group in the third quarter valued at about $113,633,000. Finally, Hosking Partners LLP boosted its position in American Airlines Group by 0.4% in the third quarter. Hosking Partners LLP now owns 2,344,886 shares of the airline’s stock valued at $111,359,000 after buying an additional 9,522 shares in the last quarter. Institutional investors and hedge funds own 81.20% of the company’s stock.

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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.

Analyst Recommendations for American Airlines Group (NASDAQ:AAL)

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