Bank of America Issues Pessimistic Forecast for American Airlines Group (NASDAQ:AAL) Stock Price

American Airlines Group (NASDAQ:AAL) had its price target reduced by Bank of America from $16.00 to $12.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the airline’s stock.

AAL has been the topic of several other reports. Melius Research raised shares of American Airlines Group from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $12.00 price objective (down from $20.00) on shares of American Airlines Group in a report on Tuesday, April 1st. Barclays lowered their target price on shares of American Airlines Group from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. StockNews.com lowered American Airlines Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Finally, Sanford C. Bernstein upgraded American Airlines Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $14.00 to $24.00 in a research report on Tuesday, December 10th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

American Airlines Group Stock Performance

NASDAQ AAL opened at $9.42 on Thursday. The company has a market capitalization of $6.19 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 0.21 and a beta of 1.17. American Airlines Group has a 52-week low of $8.50 and a 52-week high of $19.10. The company has a 50-day simple moving average of $13.85 and a 200 day simple moving average of $14.44.

American Airlines Group (NASDAQ:AAL) last issued its quarterly earnings results on Thursday, January 23rd. The airline reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.47. American Airlines Group had a net margin of 1.56% and a negative return on equity of 28.56%. As a group, analysts forecast that American Airlines Group will post 2.42 EPS for the current fiscal year.

Insider Transactions at American Airlines Group

In related news, SVP Angela Owens sold 51,906 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $17.15, for a total value of $890,187.90. Following the transaction, the senior vice president now owns 112,412 shares of the company’s stock, valued at $1,927,865.80. This represents a 31.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Airlines Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Avantax Advisory Services Inc. lifted its position in American Airlines Group by 4.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 14,751 shares of the airline’s stock worth $257,000 after buying an additional 635 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of American Airlines Group by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 133,774 shares of the airline’s stock worth $2,332,000 after acquiring an additional 774 shares during the last quarter. M&T Bank Corp boosted its stake in shares of American Airlines Group by 2.4% in the 4th quarter. M&T Bank Corp now owns 34,525 shares of the airline’s stock valued at $602,000 after purchasing an additional 794 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of American Airlines Group by 133.1% during the 4th quarter. Brooklyn Investment Group now owns 1,592 shares of the airline’s stock valued at $28,000 after purchasing an additional 909 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in American Airlines Group by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 19,987 shares of the airline’s stock worth $348,000 after purchasing an additional 981 shares during the period. 52.44% of the stock is currently owned by hedge funds and other institutional investors.

American Airlines Group Company Profile

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.