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

American Airlines Group (NASDAQ:AAL) was upgraded by research analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat reports. The brokerage currently has a $64.00 price target on the airline’s stock. Bank of America’s price objective indicates a potential upside of 19.43% from the company’s current price.

A number of other analysts also recently issued reports on the company. Citigroup reissued a “buy” rating on shares of American Airlines Group in a research report on Wednesday, September 13th. Buckingham Research reissued a “buy” rating on shares of American Airlines Group in a research report on Friday, October 27th. BidaskClub raised American Airlines Group from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Morgan Stanley reissued an “equal weight” rating and set a $51.00 price objective (up from $47.00) on shares of American Airlines Group in a research report on Monday, October 2nd. Finally, Barclays reissued a “hold” rating and set a $55.00 price objective on shares of American Airlines Group in a research report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $60.16.

Shares of American Airlines Group (NASDAQ AAL) traded up $1.51 during trading hours on Tuesday, hitting $53.59. The stock had a trading volume of 3,755,294 shares, compared to its average volume of 3,770,983. American Airlines Group has a 52-week low of $39.21 and a 52-week high of $54.48. The stock has a market cap of $25,590.00, a price-to-earnings ratio of 13.64 and a beta of 0.99. 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 issued its earnings results on Thursday, October 26th. The airline reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. American Airlines Group had a return on equity of 64.92% and a net margin of 4.71%. The business had revenue of $10.88 billion during the quarter, compared to the consensus estimate of $10.88 billion. During the same period last year, the company earned $2.80 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. analysts forecast that American Airlines Group will post 4.66 earnings per share for the current year.

In related news, Director Alberto Ibarguen sold 4,229 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $47.60, for a total transaction of $201,300.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO W Douglas Parker sold 224,572 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $52.32, for a total value of $11,749,607.04. Following the sale, the chief executive officer now owns 1,925,242 shares of the company’s stock, valued at approximately $100,728,661.44. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westside Investment Management Inc. increased its holdings in shares of American Airlines Group by 3.5% in the second 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 period. WFG Advisors LP increased its holdings in shares of American Airlines Group by 28.1% in the second 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 period. Exane Derivatives increased its holdings in shares of American Airlines Group by 416.3% in the third quarter. Exane Derivatives now owns 2,592 shares of the airline’s stock valued at $123,000 after purchasing an additional 2,090 shares during the period. IHT Wealth Management LLC increased its holdings in shares of American Airlines Group by 516.8% in the second quarter. IHT Wealth Management LLC now owns 2,387 shares of the airline’s stock valued at $126,000 after purchasing an additional 2,000 shares during the period. Finally, Blue Granite Capital LLC acquired a new position in shares of American Airlines Group in the third quarter valued at approximately $131,000. 81.20% of the stock is currently owned by institutional investors.

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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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