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

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

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

Grupo Aeromexico Trading Up 2.1%

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

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

Insider Activity at Grupo Aeromexico

In other news, insider Aaron James Murray sold 350,000 shares of the company’s stock in a transaction that occurred on 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 approximately $2,524,282.80. This represents a 17.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.82% of the company’s stock.

Institutional Inflows and Outflows

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