Zacks Research Upgrades Grupo Aeromexico (NYSE:AERO) to “Strong-Buy”

Grupo Aeromexico (NYSE:AERO) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced 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. Jefferies Financial Group assumed coverage on Grupo Aeromexico in a research report on Thursday, June 18th. They issued a “hold” rating and a $20.00 target price on the stock. Weiss Ratings cut Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Grupo Aeromexico from a “buy” rating to a “hold” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Grupo Aeromexico has a consensus rating of “Moderate Buy” and an average price target of $28.06.

Grupo Aeromexico Stock Up 2.1%

Shares of NYSE AERO opened at $15.90 on Wednesday. The firm’s 50-day moving average price is $16.46 and its two-hundred day moving average price is $16.47. Grupo Aeromexico has a 52-week low of $12.26 and a 52-week high of $23.05. The stock has a market capitalization of $2.17 billion and a P/E ratio of 37.86.

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

Insider Buying and Selling at Grupo Aeromexico

In related news, insider Aaron James Murray sold 350,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were 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 $2,524,282.80. This represents a 17.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grupo Aeromexico

A number of institutional investors have recently added to or reduced their stakes in AERO. Public Employees Retirement System of Ohio acquired a new position in shares of Grupo Aeromexico during the 1st quarter valued at $56,000. R Squared Ltd bought a new stake in shares of Grupo Aeromexico in the 1st quarter worth $163,000. Federated Hermes Inc. acquired a new stake in shares of Grupo Aeromexico in the fourth quarter valued at $220,000. Sandia Investment Management LP acquired a new stake in shares of Grupo Aeromexico in the fourth quarter valued at $220,000. Finally, Quarry LP bought a new position in Grupo Aeromexico during 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.