Standpoint Research started coverage on shares of American Airlines Group (NASDAQ:AAL) in a research note published on Wednesday, June 5th, FirstToMarketsRatingsTable reports. The brokerage issued a buy rating on the airline’s stock.
A number of other research analysts also recently issued reports on AAL. BidaskClub downgraded shares of American Airlines Group from a sell rating to a strong sell rating in a research report on Friday, May 24th. Barclays decreased their price objective on shares of American Airlines Group from $60.00 to $48.00 and set an overweight rating for the company in a research report on Monday, May 20th. Morgan Stanley downgraded shares of American Airlines Group from an equal weight rating to an underweight rating and decreased their price objective for the stock from $40.00 to $26.00 in a research report on Monday, May 20th. Zacks Investment Research raised shares of American Airlines Group from a strong sell rating to a hold rating in a research note on Wednesday, May 8th. Finally, Imperial Capital reissued an in-line rating and set a $41.00 target price (down previously from $43.00) on shares of American Airlines Group in a research note on Tuesday, April 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. American Airlines Group presently has an average rating of Hold and an average price target of $43.31.
AAL stock traded up $0.46 during trading on Wednesday, hitting $32.61. 5,237,800 shares of the company’s stock traded hands, compared to its average volume of 7,103,556. The stock’s fifty day moving average price is $31.03. 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 $14.36 billion, a price-to-earnings ratio of 7.17 and a beta of 1.61.
In related news, Director John T. Cahill bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of $28.60 per share, with a total value of $715,000.00. Following the transaction, 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, President Robert D. Isom, Jr. bought 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average cost of $27.75 per share, for a total transaction of $416,250.00. Following the completion of the transaction, the president now directly owns 768,771 shares in the company, valued at $21,333,395.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 95,000 shares of company stock worth $2,674,350. 0.70% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. First Trust Advisors LP grew its holdings in shares of American Airlines Group by 37.5% during the first quarter. First Trust Advisors LP now owns 375,266 shares of the airline’s stock worth $11,918,000 after buying an additional 102,392 shares in the last quarter. First Dallas Securities Inc. grew its holdings in American Airlines Group by 0.6% in the first quarter. First Dallas Securities Inc. now owns 63,330 shares of the airline’s stock valued at $2,011,000 after purchasing an additional 367 shares during the period. Allstate Corp purchased a new stake in American Airlines Group in the first quarter valued at approximately $213,000. Cerebellum GP LLC purchased a new stake in American Airlines Group in the first quarter valued at approximately $333,000. Finally, Meridian Wealth Management LLC purchased a new stake in American Airlines Group in the first quarter valued at approximately $348,000. 79.37% of the stock is currently owned by institutional investors.
About American Airlines Group
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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