Grupo Aeromexico (NYSE:AERO) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Grupo Aeromexico (NYSE:AERO) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

AERO has been the topic of a number of other research reports. Jefferies Financial Group began coverage on shares of Grupo Aeromexico in a research note on Thursday, June 18th. They set a “hold” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating on the stock in a report on Friday, June 12th. Weiss Ratings lowered shares of Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 17th. Finally, Wall Street Zen lowered Grupo Aeromexico from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.06.

Grupo Aeromexico Stock Up 2.1%

AERO opened at $15.90 on Wednesday. The business’s fifty day simple moving average is $16.46 and its 200 day simple moving average is $16.47. Grupo Aeromexico has a 52 week low of $12.26 and a 52 week high of $23.05. The firm has a market cap of $2.17 billion and a P/E ratio of 37.86.

Grupo Aeromexico (NYSE:AERO) last released its earnings results on Tuesday, July 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03). Grupo Aeromexico had a net margin of 3.78% and a negative return on equity of 25.10%. The firm had revenue of $1.48 billion during the quarter. As a group, equities analysts expect that Grupo Aeromexico will post 1.05 EPS for the current fiscal year.

Insider Transactions at Grupo Aeromexico

In other news, insider Aaron James Murray sold 350,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $1.56, for a total transaction of $546,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 12.82% of the company’s stock.

Institutional Investors Weigh In On Grupo Aeromexico

A number of hedge funds have recently made changes to their positions in the business. Strategic Value Partners LLC bought a new stake in Grupo Aeromexico during the 4th quarter valued at $208,318,000. Seven Grand Managers LLC acquired a new stake in Grupo Aeromexico during the fourth quarter valued at approximately $3,294,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Grupo Aeromexico during the 4th quarter valued at $1,976,000. Norges Bank acquired a new position in shares of Grupo Aeromexico in the 4th quarter valued at $8,784,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Grupo Aeromexico in the fourth quarter worth about $3,968,000.

Grupo Aeromexico Company Profile

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.