Evercore ISI Cuts American Airlines Group (NASDAQ:AAL) Price Target to $10.00

American Airlines Group (NASDAQ:AAL) had its target price dropped by research analysts at Evercore ISI to $10.00 in a research report issued on Friday, Stock Target Advisor reports. Evercore ISI’s price target would indicate a potential downside of 4.49% from the company’s previous close.

Several other analysts also recently commented on AAL. TD Cowen downgraded shares of American Airlines Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $16.00 to $10.00 in a research report on Wednesday, July 17th. Jefferies Financial Group downgraded shares of American Airlines Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $17.00 to $12.00 in a research report on Wednesday, May 29th. Morgan Stanley decreased their target price on shares of American Airlines Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, June 3rd. Citigroup reduced their price objective on shares of American Airlines Group from $20.00 to $16.50 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, HSBC assumed coverage on shares of American Airlines Group in a research note on Monday, May 13th. They issued a “buy” rating and a $17.90 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.80.

American Airlines Group Price Performance

AAL traded down $0.13 on Friday, reaching $10.47. 27,619,684 shares of the company traded hands, compared to its average volume of 34,530,125. The stock’s 50 day moving average price is $11.59 and its 200-day moving average price is $13.43. American Airlines Group has a 52-week low of $9.76 and a 52-week high of $16.87. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.22 and a beta of 1.44.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings data on Thursday, July 25th. The airline reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. American Airlines Group had a net margin of 0.94% and a negative return on equity of 31.65%. The firm had revenue of $14.33 billion for the quarter, compared to the consensus estimate of $14.38 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts forecast that American Airlines Group will post 1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Airlines Group

Several large investors have recently bought and sold shares of AAL. U S Global Investors Inc. raised its stake in American Airlines Group by 18.7% during the 4th quarter. U S Global Investors Inc. now owns 12,675,358 shares of the airline’s stock valued at $174,159,000 after purchasing an additional 2,001,247 shares during the last quarter. Norges Bank acquired a new position in shares of American Airlines Group in the 4th quarter valued at $22,819,000. Vanguard Group Inc. raised its stake in shares of American Airlines Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 76,177,845 shares of the airline’s stock valued at $1,169,330,000 after buying an additional 806,770 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of American Airlines Group by 132.8% in the 2nd quarter. SG Americas Securities LLC now owns 147,877 shares of the airline’s stock valued at $1,675,000 after buying an additional 598,941 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of American Airlines Group in the 2nd quarter valued at $5,987,000. 52.44% of the stock is currently owned by institutional investors and hedge funds.

American Airlines Group Company Profile

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.