American Airlines Group (NASDAQ:AAL) Rating Increased to Outperform at Raymond James

American Airlines Group (NASDAQ:AAL) was upgraded by Raymond James from a “market perform” rating to an “outperform” rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $24.00 price objective on the airline’s stock. Raymond James’ price target would indicate a potential upside of 38.33% from the company’s previous close.

Several other research firms have also commented on AAL. Evercore ISI increased their target price on shares of American Airlines Group from $10.00 to $12.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Citigroup lifted their price objective on American Airlines Group from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. TD Cowen lifted their target price on shares of American Airlines Group from $10.00 to $17.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Redburn Atlantic upgraded American Airlines Group to a “hold” rating in a report on Tuesday, September 3rd. Finally, Seaport Res Ptn upgraded American Airlines Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American Airlines Group has an average rating of “Moderate Buy” and an average price target of $16.44.

American Airlines Group Stock Performance

Shares of American Airlines Group stock opened at $17.35 on Monday. The company has a market cap of $11.40 billion, a PE ratio of 52.58, a P/E/G ratio of 0.29 and a beta of 1.41. The business has a 50-day simple moving average of $15.03 and a 200-day simple moving average of $12.33. American Airlines Group has a one year low of $9.07 and a one year high of $18.20.

American Airlines Group (NASDAQ:AAL) last issued its earnings results on Thursday, October 24th. The airline reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. American Airlines Group had a negative return on equity of 18.62% and a net margin of 0.51%. The company had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $13.50 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. American Airlines Group’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts predict that American Airlines Group will post 1.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On American Airlines Group

Several hedge funds and other institutional investors have recently made changes to their positions in AAL. Allspring Global Investments Holdings LLC raised its stake in shares of American Airlines Group by 4.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 32,490 shares of the airline’s stock worth $368,000 after buying an additional 1,459 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of American Airlines Group by 57.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 127,926 shares of the airline’s stock valued at $1,449,000 after purchasing an additional 46,495 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of American Airlines Group by 17.9% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 23,357 shares of the airline’s stock worth $265,000 after purchasing an additional 3,540 shares during the last quarter. Signaturefd LLC grew its stake in shares of American Airlines Group by 16.5% during the second quarter. Signaturefd LLC now owns 9,470 shares of the airline’s stock worth $107,000 after purchasing an additional 1,343 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in American Airlines Group in the second quarter valued at about $114,000. 52.44% of the stock is owned by institutional investors and hedge funds.

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.