Grupo Aeromexico (NYSE:AERO) Trading Down 8.3% – Time to Sell?

Grupo Aeromexico (NYSE:AERO) was down 8.3% on Monday . The company traded as low as $14.30 and last traded at $14.41. Approximately 132,281 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 381,536 shares. The stock had previously closed at $15.72.

Analyst Upgrades and Downgrades

Several brokerages have commented on AERO. Morgan Stanley assumed coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They set an “overweight” rating and a $30.00 target price on the stock. Barclays increased their price objective on Grupo Aeromexico from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. Citigroup started coverage on Grupo Aeromexico in a research report on Wednesday, December 17th. They issued a “buy” rating and a $27.00 target price for the company. Evercore began coverage on shares of Grupo Aeromexico in a research note on Wednesday, December 17th. They set an “outperform” rating and a $36.00 target price on the stock. Finally, Zacks Research upgraded shares of Grupo Aeromexico to a “hold” rating in a research note on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Grupo Aeromexico presently has a consensus rating of “Moderate Buy” and an average target price of $30.83.

Grupo Aeromexico Price Performance

The firm has a fifty day simple moving average of $19.66.

Institutional Investors Weigh In On Grupo Aeromexico

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