American Airlines Group (NASDAQ:AAL) Price Target Cut to $16.00 by Analysts at Bank of America

American Airlines Group (NASDAQ:AAL) had its target price dropped by investment analysts at Bank of America from $20.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the airline’s stock. Bank of America‘s target price suggests a potential upside of 39.62% from the stock’s current price.

A number of other equities research analysts also recently weighed in on AAL. JPMorgan Chase & Co. decreased their price target on shares of American Airlines Group from $30.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley upped their target price on shares of American Airlines Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. TD Cowen upgraded shares of American Airlines Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $17.00 to $25.00 in a research note on Monday, January 6th. Susquehanna lowered their price objective on American Airlines Group from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded American Airlines Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.42.

American Airlines Group Price Performance

NASDAQ AAL opened at $11.46 on Wednesday. The company’s fifty day moving average is $16.33 and its two-hundred day moving average is $14.44. American Airlines Group has a 52-week low of $9.07 and a 52-week high of $19.10. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 10.05, a P/E/G 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 (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that American Airlines Group will post 2.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other American Airlines Group news, SVP Angela Owens sold 51,906 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $17.15, for a total value of $890,187.90. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert D. Isom, Jr. sold 102,441 shares of American Airlines Group stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $17.21, for a total value of $1,763,009.61. Following the sale, the chief executive officer now directly owns 2,967,984 shares in the company, valued at $51,079,004.64. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On American Airlines Group

Several large investors have recently modified their holdings of AAL. Golden State Wealth Management LLC bought a new position in American Airlines Group during the 4th quarter worth $25,000. Brooklyn Investment Group lifted its stake in shares of American Airlines Group by 133.1% in the fourth quarter. Brooklyn Investment Group now owns 1,592 shares of the airline’s stock worth $28,000 after acquiring an additional 909 shares during the period. Elequin Capital LP boosted its holdings in American Airlines Group by 208.5% in the fourth quarter. Elequin Capital LP now owns 1,749 shares of the airline’s stock valued at $30,000 after acquiring an additional 1,182 shares during the last quarter. Bfsg LLC increased its position in American Airlines Group by 269.3% during the 4th quarter. Bfsg LLC now owns 2,057 shares of the airline’s stock valued at $36,000 after purchasing an additional 1,500 shares during the period. Finally, Bernard Wealth Management Corp. bought a new position in American Airlines Group during the 4th quarter worth approximately $42,000. Institutional investors own 52.44% of the company’s stock.

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.