Zacks Research Upgrades Grupo Aeromexico (NYSE:AERO) to Hold

Grupo Aeromexico (NYSE:AERO) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

AERO has been the subject of several other reports. JPMorgan Chase & Co. reduced their target price on Grupo Aeromexico from $28.50 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Barclays reduced their target price on Grupo Aeromexico from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. The Goldman Sachs Group raised Grupo Aeromexico to a “strong-buy” rating in a research note on Monday, April 13th. Wall Street Zen raised Grupo Aeromexico from a “hold” rating to a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings lowered Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.43.

Grupo Aeromexico Stock Up 3.3%

Grupo Aeromexico stock opened at $16.54 on Monday. Grupo Aeromexico has a 52 week low of $12.26 and a 52 week high of $23.05. The business has a 50-day simple moving average of $14.96 and a 200 day simple moving average of $17.75. The stock has a market cap of $2.26 billion and a price-to-earnings ratio of 20.17.

Grupo Aeromexico (NYSE:AERO) last posted its earnings results on Tuesday, March 31st. The company reported $0.01 EPS for the quarter. Grupo Aeromexico had a negative return on equity of 41.04% and a net margin of 6.17%.The business had revenue of $1.34 billion during the quarter. On average, research analysts anticipate that Grupo Aeromexico will post 1.13 earnings per share for the current year.

Insider Buying and Selling at Grupo Aeromexico

In other news, insider Aaron James Murray sold 350,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $1.56, for a total value of $546,000.00. Following the completion of the sale, the insider owned 1,618,130 shares of the company’s stock, valued at approximately $2,524,282.80. The trade was a 17.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.82% of the company’s stock.

Institutional Investors Weigh In On Grupo Aeromexico

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Par Capital Management Inc. bought a new stake in shares of Grupo Aeromexico in the 4th quarter valued at about $304,155,000. Silver Point Capital L.P. bought a new stake in shares of Grupo Aeromexico in the 4th quarter valued at about $289,274,000. Strategic Value Partners LLC bought a new position in Grupo Aeromexico during the 4th quarter valued at approximately $208,318,000. Nut Tree Capital Management LP bought a new position in Grupo Aeromexico during the 4th quarter valued at approximately $130,652,000. Finally, Baupost Group LLC MA bought a new position in Grupo Aeromexico during the 4th quarter valued at approximately $106,620,000.

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.