Raymond James Reiterates Outperform Rating for American Airlines Group (NASDAQ:AAL)

American Airlines Group (NASDAQ:AAL)‘s stock had its “outperform” rating reiterated by equities research analysts at Raymond James in a research note issued on Friday,Benzinga reports. They currently have a $23.00 price target on the airline’s stock, down from their previous price target of $24.00. Raymond James’ target price indicates a potential upside of 35.61% from the company’s current price.

AAL has been the topic of a number of other reports. StockNews.com downgraded shares of American Airlines Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Evercore ISI upped their target price on American Airlines Group to $18.00 and gave the stock a “hold” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. lifted their price target on American Airlines Group from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $15.00 price objective on shares of American Airlines Group in a report on Friday, November 15th. Finally, Morgan Stanley lifted 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. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.99.

American Airlines Group Price Performance

American Airlines Group stock opened at $16.96 on Friday. American Airlines Group has a 12-month low of $9.07 and a 12-month high of $19.10. The stock has a market capitalization of $11.14 billion, a PE ratio of 51.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.35. The firm has a 50 day simple moving average of $16.71 and a 200-day simple moving average of $13.24.

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 analysts’ consensus estimates of $0.39 by $0.47. American Airlines Group had a negative return on equity of 18.62% and a net margin of 0.51%. On average, analysts forecast that American Airlines Group will post 1.73 earnings per share for the current fiscal year.

Insider Activity at American Airlines Group

In other news, CEO Robert D. Isom, Jr. sold 102,441 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $17.21, for a total value of $1,763,009.61. Following the transaction, the chief executive officer now directly owns 2,967,984 shares of the company’s stock, valued at $51,079,004.64. The trade was a 3.34 % decrease in their position. The sale 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

Several institutional investors have recently bought and sold shares of AAL. Dimensional Fund Advisors LP increased its stake in shares of American Airlines Group by 75.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,240,659 shares of the airline’s stock valued at $48,047,000 after buying an additional 1,823,928 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in American Airlines Group during the 4th quarter worth about $26,033,000. Point72 DIFC Ltd acquired a new stake in American Airlines Group in the 3rd quarter valued at about $16,490,000. Toronto Dominion Bank raised its stake in shares of American Airlines Group by 379.6% in the third quarter. Toronto Dominion Bank now owns 1,667,539 shares of the airline’s stock worth $18,743,000 after acquiring an additional 1,319,859 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of American Airlines Group by 10,997.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,167,056 shares of the airline’s stock worth $13,118,000 after purchasing an additional 1,156,540 shares in the last quarter. 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.