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. reduced their price objective on shares of Air Methods Corp. from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $47.67.
Shares of Air Methods Corp. (NASDAQ:AIRM) opened at 30.70 on Wednesday. Air Methods Corp. has a 12-month low of $30.15 and a 12-month high of $46.50. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 10.46 and a beta of 1.47. The firm has a 50-day moving average of $32.79 and a 200 day moving average of $35.05.
Air Methods Corp. (NASDAQ:AIRM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by $0.07. Air Methods Corp. had a net margin of 10.18% and a return on equity of 20.90%. The firm earned $292.60 million during the quarter, compared to analyst estimates of $299.35 million. During the same quarter in the previous year, the business posted $0.69 earnings per share. Air Methods Corp.’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts forecast that Air Methods Corp. will post $3.09 earnings per share for the current fiscal year.
In related news, insider Sharon J. Keck sold 1,300 shares of Air Methods Corp. stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $32.43, for a total transaction of $42,159.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph E. Whitters purchased 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were bought at an average price of $32.12 per share, for a total transaction of $80,300.00. The disclosure for this purchase can be found here. Corporate insiders own 8.99% of the company’s stock.
A number of large investors have recently made changes to their positions in AIRM. Eqis Capital Management Inc. bought a new stake in shares of Air Methods Corp. during the third quarter valued at approximately $282,000. Macquarie Group Ltd. raised its stake in shares of Air Methods Corp. by 27.6% in the second quarter. Macquarie Group Ltd. now owns 593,888 shares of the company’s stock valued at $21,279,000 after buying an additional 128,463 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Air Methods Corp. during the second quarter valued at approximately $245,000. Schwab Charles Investment Management Inc. raised its stake in shares of Air Methods Corp. by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 166,903 shares of the company’s stock valued at $5,981,000 after buying an additional 4,800 shares in the last quarter. Finally, American Century Companies Inc. raised its stake 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 in the last quarter.
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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