Grupo Aeromexico (NYSE:AERO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Grupo Aeromexico (NYSE:AERO) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $29.4286.

AERO has been the subject of several analyst reports. Wall Street Zen raised Grupo Aeromexico from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Citigroup assumed coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They issued a “buy” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Grupo Aeromexico from $28.50 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Evercore started coverage on shares of Grupo Aeromexico in a research note on Wednesday, December 17th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Grupo Aeromexico in a report on Wednesday, December 17th. They issued a “buy” rating and a $35.00 target price for the company.

Grupo Aeromexico Trading Up 1.2%

AERO opened at $13.84 on Friday. The company has a market cap of $1.89 billion and a price-to-earnings ratio of 18.45. The stock’s fifty day moving average is $17.91. Grupo Aeromexico has a fifty-two week low of $12.26 and a fifty-two week high of $23.05.

Hedge Funds Weigh In On Grupo Aeromexico

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in Grupo Aeromexico during the 4th quarter worth approximately $220,000. Sandia Investment Management LP purchased a new stake in shares of Grupo Aeromexico in the fourth quarter valued at $220,000. Quarry LP purchased a new stake in shares of Grupo Aeromexico in the fourth quarter valued at $232,000. VR Advisory Services Ltd acquired a new stake in shares of Grupo Aeromexico in the fourth quarter worth $259,000. Finally, HRT Financial LP purchased a new position in shares of Grupo Aeromexico during the fourth quarter valued at $295,000.

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.