American Airlines Group (NASDAQ:AAL) Downgraded to Underperform at Credit Suisse Group

Credit Suisse Group cut shares of American Airlines Group (NASDAQ:AAL) from a neutral rating to an underperform rating in a research note released on Monday morning, BenzingaRatingsTable reports. Credit Suisse Group currently has $30.00 price objective on the airline’s stock, down from their prior price objective of $32.00.

AAL has been the topic of several other reports. Standpoint Research upgraded shares of CVS Health from a hold rating to a buy rating in a research report on Wednesday, June 5th. Imperial Capital reaffirmed an outperform rating and set a $5.50 target price (down from $11.00) on shares of Town Sports International in a research note on Tuesday, April 30th. Cowen reaffirmed an outperform rating and set a $41.00 target price (down from $42.00) on shares of American Airlines Group in a research note on Monday, April 29th. Zacks Investment Research cut shares of Haynes International from a hold rating to a sell rating in a research note on Wednesday, May 8th. Finally, Barclays raised their target price on shares of NetEase from $300.00 to $320.00 and gave the company an overweight rating in a research note on Monday, May 20th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $42.38.

AAL opened at $33.03 on Monday. American Airlines Group has a 1-year low of $27.02 and a 1-year high of $43.89. The company has a market capitalization of $14.65 billion, a P/E ratio of 7.26 and a beta of 1.69. The stock has a 50 day simple moving average of $31.11.

American Airlines Group (NASDAQ:AAL) last released its quarterly earnings results on Friday, April 26th. The airline reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. American Airlines Group had a net margin of 3.15% and a negative return on equity of 356.47%. The business had revenue of $10.58 billion for the quarter, compared to the consensus estimate of $10.61 billion. During the same period last year, the firm earned $0.75 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts predict that American Airlines Group will post 5 earnings per share for the current year.

In other American Airlines Group news, Director John T. Cahill acquired 25,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was acquired at an average cost of $28.60 per share, with a total value of $715,000.00. Following the purchase, the director now directly owns 3,494 shares of the company’s stock, valued at approximately $99,928.40. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO W Douglas Parker acquired 50,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was acquired at an average cost of $28.09 per share, with a total value of $1,404,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,201,636 shares in the company, valued at $61,843,955.24. The disclosure for this purchase can be found here. Insiders have purchased 95,000 shares of company stock valued at $2,674,350 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Harris Associates L P boosted its stake in shares of American Airlines Group by 14.0% during the 4th quarter. Harris Associates L P now owns 18,951,352 shares of the airline’s stock worth $608,528,000 after purchasing an additional 2,328,627 shares during the period. FMR LLC boosted its stake in shares of American Airlines Group by 37.5% during the 4th quarter. FMR LLC now owns 14,226,885 shares of the airline’s stock worth $456,824,000 after purchasing an additional 3,883,285 shares during the period. Geode Capital Management LLC boosted its stake in shares of American Airlines Group by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 5,530,993 shares of the airline’s stock worth $177,362,000 after purchasing an additional 366,191 shares during the period. Northern Trust Corp boosted its stake in shares of American Airlines Group by 0.3% during the 4th quarter. Northern Trust Corp now owns 4,165,056 shares of the airline’s stock worth $133,739,000 after purchasing an additional 14,004 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its stake in shares of American Airlines Group by 44.8% during the 4th quarter. Brandywine Global Investment Management LLC now owns 3,289,684 shares of the airline’s stock worth $105,632,000 after purchasing an additional 1,017,143 shares during the period. 79.37% of the stock is owned by institutional investors and hedge funds.

American Airlines Group Company Profile

American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2018, the company operated a mainline fleet of 956 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, London Heathrow, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.

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Analyst Recommendations for American Airlines Group (NASDAQ:AAL)

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