TD Cowen Downgrades American Airlines Group (NASDAQ:AAL) to Hold

American Airlines Group (NASDAQ:AAL) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a $10.00 target price on the airline’s stock, down from their prior target price of $16.00. TD Cowen’s price target points to a potential downside of 5.84% from the company’s previous close.

Several other analysts also recently commented on the stock. Citigroup cut their price objective on shares of American Airlines Group from $20.00 to $16.50 and set a “buy” rating on the stock in a research report on Friday, May 31st. Bank of America cut their price objective on shares of American Airlines Group from $12.00 to $11.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 29th. Evercore ISI dropped their price target on shares of American Airlines Group from $17.00 to $13.00 and set an “in-line” rating on the stock in a report on Monday. HSBC initiated coverage on shares of American Airlines Group in a report on Monday, May 13th. They set a “buy” rating and a $17.90 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of American Airlines Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.65.

American Airlines Group Price Performance

Shares of American Airlines Group stock opened at $10.62 on Wednesday. The company has a 50-day moving average of $12.11 and a 200 day moving average of $13.55. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.22 and a beta of 1.44. American Airlines Group has a 1 year low of $10.34 and a 1 year high of $18.80.

American Airlines Group (NASDAQ:AAL) last issued its quarterly earnings results on Thursday, April 25th. The airline reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). The business had revenue of $12.57 billion during the quarter, compared to the consensus estimate of $12.60 billion. American Airlines Group had a negative return on equity of 31.65% and a net margin of 0.94%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, equities analysts anticipate that American Airlines Group will post 1.86 EPS for the current year.

Institutional Investors Weigh In On American Airlines Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. bought a new stake in American Airlines Group during the 2nd quarter worth approximately $5,452,000. ORG Partners LLC bought a new stake in American Airlines Group during the 2nd quarter worth approximately $36,000. V Square Quantitative Management LLC raised its stake in American Airlines Group by 32.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 18,565 shares of the airline’s stock worth $210,000 after acquiring an additional 4,599 shares during the period. Wedmont Private Capital bought a new stake in American Airlines Group during the 2nd quarter worth approximately $115,000. Finally, Granite Bay Wealth Management LLC bought a new stake in American Airlines Group during the 2nd quarter worth approximately $519,000. 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.