American Airlines Group (NASDAQ:AAL) Shares Gap Up Following Analyst Upgrade

Shares of American Airlines Group Inc. (NASDAQ:AAL) gapped up before the market opened on Friday after Evercore ISI raised their price target on the stock from $10.00 to $12.00. The stock had previously closed at $10.82, but opened at $11.36. Evercore ISI currently has an in-line rating on the stock. American Airlines Group shares last traded at $11.51, with a volume of 21,327,542 shares.

A number of other brokerages also recently weighed in on AAL. BNP Paribas upgraded American Airlines Group to a “hold” rating in a report on Thursday, September 19th. TD Securities dropped their target price on shares of American Airlines Group from $10.00 to $7.00 in a report on Friday, July 26th. Evercore reduced their price target on shares of American Airlines Group from $13.00 to $10.00 in a research report on Friday, July 26th. JPMorgan Chase & Co. lowered their price objective on shares of American Airlines Group from $21.00 to $15.00 in a research report on Friday, July 26th. Finally, Jefferies Financial Group increased their price target on American Airlines Group from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.15.

Institutional Investors Weigh In On American Airlines Group

Several hedge funds have recently modified their holdings of AAL. Vanguard Group Inc. boosted its stake in shares of American Airlines Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 76,177,845 shares of the airline’s stock valued at $1,169,330,000 after purchasing an additional 806,770 shares during the last quarter. Primecap Management Co. CA boosted its position in American Airlines Group by 34.4% during the second quarter. Primecap Management Co. CA now owns 56,881,356 shares of the airline’s stock valued at $644,466,000 after acquiring an additional 14,549,310 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in American Airlines Group by 75.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,240,659 shares of the airline’s stock worth $48,047,000 after acquiring an additional 1,823,928 shares during the period. Par Capital Management Inc. raised its position in shares of American Airlines Group by 0.4% in the 4th quarter. Par Capital Management Inc. now owns 2,510,600 shares of the airline’s stock worth $34,496,000 after acquiring an additional 10,600 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of American Airlines Group by 743.1% in the 3rd quarter. SG Americas Securities LLC now owns 1,246,742 shares of the airline’s stock valued at $14,013,000 after purchasing an additional 1,098,865 shares during the period. Institutional investors and hedge funds own 52.44% of the company’s stock.

American Airlines Group Trading Up 6.4 %

The firm has a 50-day moving average of $10.53 and a 200 day moving average of $12.00. The company has a market cap of $7.55 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 0.27 and a beta of 1.43.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings data on Thursday, July 25th. The airline reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.05. American Airlines Group had a negative net margin of 0.23% and a negative return on equity of 19.49%. The firm had revenue of $14.33 billion for the quarter, compared to analyst estimates of $14.38 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts predict that American Airlines Group Inc. will post 1.07 EPS 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.