Bank of America Raises American Airlines Group (NASDAQ:AAL) Price Target to $10.00

American Airlines Group (NASDAQ:AAL) had its price target upped by Bank of America from $9.00 to $10.00 in a research note issued to investors on Friday morning, Benzinga reports. Bank of America currently has an underperform rating on the airline’s stock.

Several other brokerages have also recently commented on AAL. Jefferies Financial Group upped their target price on shares of American Airlines Group from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their target price on American Airlines Group from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday. Evercore ISI raised their target price on American Airlines Group from $10.00 to $12.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. TD Securities lowered their price target on American Airlines Group from $10.00 to $7.00 in a research note on Friday, July 26th. Finally, Sanford C. Bernstein lowered shares of American Airlines Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $18.00 to $12.00 in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, American Airlines Group presently has an average rating of “Hold” and a consensus price target of $13.40.

American Airlines Group Stock Up 2.9 %

Shares of AAL opened at $13.15 on Friday. The stock’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $11.78. The firm has a market capitalization of $8.63 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 0.26 and a beta of 1.43. American Airlines Group has a 12-month low of $9.07 and a 12-month high of $16.15.

American Airlines Group (NASDAQ:AAL) last issued its earnings results on Thursday, October 24th. The airline reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. The company had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.50 billion. American Airlines Group had a negative net margin of 0.23% and a negative return on equity of 19.49%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. Analysts anticipate that American Airlines Group will post 1.22 EPS for the current year.

Institutional Investors Weigh In On American Airlines Group

Institutional investors have recently added to or reduced their stakes in the stock. HFG Advisors Inc. increased its holdings in American Airlines Group by 10.7% during the 1st quarter. HFG Advisors Inc. now owns 28,070 shares of the airline’s stock worth $431,000 after purchasing an additional 2,720 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of American Airlines Group by 8.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 65,234 shares of the airline’s stock worth $1,001,000 after buying an additional 4,828 shares in the last quarter. Norden Group LLC acquired a new stake in American Airlines Group in the 1st quarter valued at approximately $176,000. Principal Financial Group Inc. lifted its stake in American Airlines Group by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 751,621 shares of the airline’s stock valued at $11,537,000 after acquiring an additional 5,273 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in American Airlines Group by 15.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 92,845 shares of the airline’s stock worth $1,330,000 after acquiring an additional 12,434 shares during the last quarter. 52.44% of the stock is owned by institutional investors.

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.