Grupo Aeromexico (NYSE:AERO) Stock Rating Lowered by Zacks Research

Grupo Aeromexico (NYSE:AERO) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages also recently issued reports on AERO. Jefferies Financial Group started coverage on shares of Grupo Aeromexico in a research note on Thursday, June 18th. They issued a “hold” rating and a $20.00 target price for the company. Weiss Ratings lowered Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. cut their price objective on Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating for the company in a research report on Friday, June 12th. Finally, Wall Street Zen downgraded Grupo Aeromexico from a “buy” rating to a “hold” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.06.

Grupo Aeromexico Trading Down 3.3%

NYSE AERO opened at $14.64 on Thursday. The firm’s fifty day moving average price is $15.96 and its two-hundred day moving average price is $16.09. Grupo Aeromexico has a 1 year low of $12.26 and a 1 year high of $23.05. The firm has a market capitalization of $2.00 billion and a P/E ratio of 34.86.

Grupo Aeromexico (NYSE:AERO) last announced its quarterly earnings data on Tuesday, July 14th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03). The firm had revenue of $1.48 billion during the quarter. Grupo Aeromexico had a net margin of 3.78% and a negative return on equity of 25.10%. On average, research analysts anticipate that Grupo Aeromexico will post 0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Grupo Aeromexico news, insider Aaron James Murray sold 355,600 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $1.58, for a total value of $561,848.00. Following the transaction, the insider directly owned 1,262,530 shares of the company’s stock, valued at $1,994,797.40. This represents a 21.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grupo Aeromexico

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in Grupo Aeromexico during the 1st quarter worth approximately $56,000. R Squared Ltd bought a new position in Grupo Aeromexico during the 1st quarter worth $163,000. Federated Hermes Inc. acquired a new stake in shares of Grupo Aeromexico during the fourth quarter worth $220,000. Sandia Investment Management LP bought a new stake in shares of Grupo Aeromexico in the fourth quarter valued at about $220,000. Finally, Quarry LP acquired a new position in shares of Grupo Aeromexico in the fourth quarter valued at about $232,000.

About Grupo Aeromexico

Grupo Aeroméxico is the parent company of Aeroméxico, Mexico’s long-established flag carrier and commercial airline group. The company operates scheduled passenger and cargo services, with a network that connects domestic destinations across Mexico and international markets in the Americas, Europe and Asia. Grupo Aeroméxico’s operations include mainline services as well as regional flying through its regional affiliates, airport ground-handling and cargo divisions that support its commercial network.

The carrier deploys a mix of narrow-body and wide-body aircraft to serve short-, medium- and long-haul routes, using single-aisle jets for domestic and regional markets and wide-body equipment for transcontinental services.