American Airlines Group (NASDAQ:AAL) Reaches New 52-Week High – Here’s What Happened

American Airlines Group Inc. (NASDAQ:AAL)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $18.65 and last traded at $18.64, with a volume of 30594683 shares trading hands. The stock had previously closed at $18.27.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAL. Susquehanna boosted their target price on shares of American Airlines Group from $14.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Scotiabank upgraded American Airlines Group from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Thursday, December 5th. 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 report on Friday, October 25th. StockNews.com cut American Airlines Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $15.00 price objective on shares of American Airlines Group in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.94.

American Airlines Group Stock Performance

The business has a fifty day simple moving average of $16.41 and a 200-day simple moving average of $13.07. The stock has a market capitalization of $12.25 billion, a P/E ratio of 56.49, a PEG ratio of 0.19 and a beta of 1.35.

American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings results on Thursday, October 24th. The airline reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. American Airlines Group had a net margin of 0.51% and a negative return on equity of 18.62%. The business had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.50 billion. During the same period last year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that American Airlines Group Inc. will post 1.72 earnings per share for the current year.

Insiders Place Their Bets

In other American Airlines Group news, CEO Robert D. Isom, Jr. sold 102,441 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $17.21, for a total transaction of $1,763,009.61. Following the completion of the sale, the chief executive officer now owns 2,967,984 shares in the company, valued at approximately $51,079,004.64. The trade was a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On American Airlines Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Austin Private Wealth LLC acquired a new position in American Airlines Group during the 3rd quarter valued at about $723,000. Maverick Capital Ltd. grew its holdings in American Airlines Group by 95.3% during the second quarter. Maverick Capital Ltd. now owns 193,854 shares of the airline’s stock worth $2,196,000 after buying an additional 94,573 shares in the last quarter. Sei Investments Co. grew its holdings in American Airlines Group by 14.7% during the second quarter. Sei Investments Co. now owns 1,199,121 shares of the airline’s stock worth $13,586,000 after buying an additional 153,515 shares in the last quarter. U S Global Investors Inc. raised its position in American Airlines Group by 5.9% in the 3rd quarter. U S Global Investors Inc. now owns 9,088,188 shares of the airline’s stock valued at $102,151,000 after buying an additional 508,119 shares during the last quarter. Finally, Centiva Capital LP boosted its holdings in American Airlines Group by 199.9% during the 3rd quarter. Centiva Capital LP now owns 149,304 shares of the airline’s stock worth $1,678,000 after acquiring an additional 99,513 shares during the last quarter. 52.44% of the stock is owned by institutional investors.

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.