American Airlines Group Inc. (NASDAQ:AAL – Get Free Report)’s stock price gapped down prior to trading on Wednesday after TD Cowen lowered their price target on the stock from $18.00 to $16.00. The stock had previously closed at $13.44, but opened at $12.16. TD Cowen currently has a buy rating on the stock. American Airlines Group shares last traded at $11.58, with a volume of 32,153,058 shares traded.
A number of other research analysts have also recently weighed in on the stock. UBS Group started coverage on shares of American Airlines Group in a research note on Wednesday, March 20th. They set a “buy” rating and a $19.00 target price on the stock. Bank of America lowered their price target on shares of American Airlines Group from $12.00 to $11.00 and set an “underperform” rating for the company in a research report on Wednesday. Citigroup reissued a “buy” rating and set a $20.00 target price on shares of American Airlines Group in a research report on Thursday, March 14th. Morgan Stanley reissued an “overweight” rating and set a $20.00 target price on shares of American Airlines Group in a research report on Tuesday, March 5th. Finally, HSBC began coverage on shares of American Airlines Group in a research report on Monday, May 13th. They set a “buy” rating and a $17.90 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.93.
Hedge Funds Weigh In On American Airlines Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC raised its stake in American Airlines Group by 18.2% during the first quarter. Cetera Advisors LLC now owns 35,591 shares of the airline’s stock worth $546,000 after purchasing an additional 5,480 shares during the period. Cetera Investment Advisers raised its stake in American Airlines Group by 271.8% during the first quarter. Cetera Investment Advisers now owns 187,130 shares of the airline’s stock worth $2,872,000 after purchasing an additional 136,797 shares during the period. Beck Bode LLC purchased a new position in American Airlines Group during the first quarter worth about $603,000. Rokos Capital Management LLP purchased a new position in American Airlines Group during the first quarter worth about $6,289,000. Finally, iA Global Asset Management Inc. acquired a new stake in shares of American Airlines Group during the first quarter valued at about $1,301,000. 52.44% of the stock is owned by hedge funds and other institutional investors.
American Airlines Group Stock Down 13.5 %
The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 0.20 and a beta of 1.57. The business’s 50-day simple moving average is $14.23 and its two-hundred day simple moving average is $14.07.
American Airlines Group (NASDAQ:AAL – Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The airline reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). American Airlines Group had a net margin of 0.94% and a negative return on equity of 31.65%. The company had revenue of $12.57 billion for the quarter, compared to analyst estimates of $12.60 billion. During the same quarter in the prior year, the business earned $0.05 earnings per share. American Airlines Group’s revenue was up 3.1% on a year-over-year basis. Sell-side analysts anticipate that American Airlines Group Inc. will post 2.6 earnings per share for the current year.
About American Airlines Group
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.