Grupo Aeromexico (NYSE:AERO) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Grupo Aeromexico (NYSE:AERO) from a strong-buy rating to a hold rating in a research note published on Thursday,Zacks.com reports.

AERO has been the subject of a number of other reports. Jefferies Financial Group started coverage on Grupo Aeromexico in a research report on Thursday, June 18th. They set a “hold” rating and a $20.00 price objective for the company. Wall Street Zen cut Grupo Aeromexico from a “buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings cut Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. decreased their price target on Grupo Aeromexico from $28.00 to $26.50 and set an “overweight” rating for the company in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Grupo Aeromexico has an average rating of “Moderate Buy” and a consensus price target of $28.06.

Grupo Aeromexico Stock Performance

Shares of AERO opened at $14.64 on Thursday. Grupo Aeromexico has a fifty-two week low of $12.26 and a fifty-two week high of $23.05. The company has a market capitalization of $2.00 billion and a price-to-earnings ratio of 34.86. The firm has a 50-day simple moving average of $15.96 and a 200-day simple moving average of $16.09.

Grupo Aeromexico (NYSE:AERO) last issued its quarterly earnings results on Tuesday, July 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The company had revenue of $1.48 billion during the quarter. Grupo Aeromexico had a net margin of 3.78% and a negative return on equity of 25.10%. Equities research analysts forecast that Grupo Aeromexico will post 0.7 EPS for the current year.

Insider Transactions at Grupo Aeromexico

In other news, insider Aaron James Murray sold 355,600 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $1.58, for a total transaction of $561,848.00. Following the completion of the transaction, the insider directly owned 1,262,530 shares of the company’s stock, valued at approximately $1,994,797.40. This represents a 21.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 12.82% of the company’s stock.

Institutional Inflows and Outflows

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