Bank of America Cuts American Airlines Group (NASDAQ:AAL) Price Target to $12.00

American Airlines Group (NASDAQ:AAL) had its price objective reduced by equities researchers at Bank of America from $16.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the airline’s stock. Bank of America‘s price target would indicate a potential upside of 13.31% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of American Airlines Group from $30.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. TD Cowen boosted their target price on shares of American Airlines Group to $26.00 and gave the stock a “buy” rating in a research note on Thursday, March 13th. Redburn Partners upgraded American Airlines Group from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, February 26th. UBS Group raised American Airlines Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $12.00 target price (down previously from $20.00) on shares of American Airlines Group in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.30.

American Airlines Group Stock Up 2.8 %

NASDAQ:AAL opened at $10.59 on Thursday. American Airlines Group has a 52 week low of $9.07 and a 52 week high of $19.10. The company has a fifty day simple moving average of $14.15 and a two-hundred day simple moving average of $14.46. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.21 and a beta of 1.27.

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

Insider Buying and Selling

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 transaction of $890,187.90. Following the completion of the sale, the senior vice president now directly owns 112,412 shares of the company’s stock, valued at $1,927,865.80. This trade represents a 31.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On American Airlines Group

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of American Airlines Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 62,985,524 shares of the airline’s stock worth $1,097,838,000 after acquiring an additional 953,766 shares during the period. Primecap Management Co. CA lifted its position in American Airlines Group by 5.0% in the fourth quarter. Primecap Management Co. CA now owns 60,225,707 shares of the airline’s stock valued at $1,049,734,000 after purchasing an additional 2,886,041 shares during the period. Northern Trust Corp lifted its position in American Airlines Group by 22.0% in the fourth quarter. Northern Trust Corp now owns 5,437,904 shares of the airline’s stock valued at $94,783,000 after purchasing an additional 980,409 shares during the period. Dimensional Fund Advisors LP boosted its holdings in American Airlines Group by 21.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,280,289 shares of the airline’s stock valued at $92,043,000 after purchasing an additional 943,336 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in American Airlines Group during the 4th quarter worth approximately $60,190,000. 52.44% 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. 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.