Air Methods Corp. (AIRM) Rating Lowered to Sell at Zacks Investment Research
Air Methods Corp. (NASDAQ:AIRM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Air Methods Corporation provides air medical emergency transport services and systems throughout North America. The Air Medical Service Division offers their clients helicopters and airplanes equipped with medical interiors for flights from the scene of an accident or general hospital to a trauma center. The Products Division designs, manufactures, and installs aircraft medical interiors and other aerospace products. “
Separately, Oppenheimer Holdings Inc. decreased their price objective on shares of Air Methods Corp. from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Air Methods Corp. presently has a consensus rating of “Hold” and an average price target of $47.67.
Shares of Air Methods Corp. (NASDAQ:AIRM) opened at 30.70 on Wednesday. Air Methods Corp. has a 52 week low of $30.15 and a 52 week high of $46.50. The company’s 50-day moving average is $32.79 and its 200 day moving average is $35.05. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 10.46 and a beta of 1.47.
Air Methods Corp. (NASDAQ:AIRM) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by $0.07. Air Methods Corp. had a return on equity of 20.90% and a net margin of 10.18%. The business had revenue of $292.60 million for the quarter, compared to analysts’ expectations of $299.35 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Air Methods Corp.’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts anticipate that Air Methods Corp. will post $3.09 EPS for the current fiscal year.
In other news, insider Sharon J. Keck sold 1,300 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $32.43, for a total value of $42,159.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph E. Whitters bought 2,500 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $32.12 per share, with a total value of $80,300.00. The disclosure for this purchase can be found here. 8.99% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning increased its position in shares of Air Methods Corp. by 0.5% in the second quarter. Creative Planning now owns 2,821 shares of the company’s stock valued at $101,000 after buying an additional 15 shares during the period. Profund Advisors LLC increased its position in shares of Air Methods Corp. by 1.3% in the second quarter. Profund Advisors LLC now owns 7,683 shares of the company’s stock valued at $275,000 after buying an additional 99 shares during the period. Zacks Investment Management increased its position in shares of Air Methods Corp. by 1.4% in the second quarter. Zacks Investment Management now owns 11,511 shares of the company’s stock valued at $412,000 after buying an additional 161 shares during the period. PineBridge Investments L.P. increased its position in shares of Air Methods Corp. by 5.4% in the second quarter. PineBridge Investments L.P. now owns 4,429 shares of the company’s stock valued at $159,000 after buying an additional 226 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Air Methods Corp. by 0.6% in the second quarter. American Century Companies Inc. now owns 41,096 shares of the company’s stock valued at $1,472,000 after buying an additional 228 shares during the period.
Air Methods Corp. Company Profile
Air Methods Corporation is engaged in providing air medical emergency transport services and systems throughout the United States. The Company’s segments include Air Medical Services (AMS), Tourism and United Rotorcraft (UR) Division. The Company’s AMS segment provides air medical transportation services to the general population as an independent service and to hospitals or other institutions under exclusive operating agreements.
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