Grupo Aeromexico (NYSE:AERO) Shares Up 7.6% – Time to Buy?

Grupo Aeromexico (NYSE:AERO) traded up 7.6% during mid-day trading on Tuesday . The stock traded as high as $19.39 and last traded at $19.37. 231,663 shares were traded during mid-day trading, a decline of 27% from the average session volume of 315,372 shares. The stock had previously closed at $18.00.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AERO shares. Morgan Stanley started coverage on shares of Grupo Aeromexico in a research report on Wednesday, December 17th. They set an “overweight” rating and a $30.00 price target for the company. The Goldman Sachs Group started coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They set a “buy” rating and a $35.00 target price on the stock. Wall Street Zen upgraded Grupo Aeromexico to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings began coverage on Grupo Aeromexico in a report on Tuesday, February 3rd. They set a “hold (c)” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Grupo Aeromexico in a research report on Wednesday, December 17th. They set a “buy” rating and a $25.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.17.

Grupo Aeromexico Trading Up 9.1%

The business’s fifty day moving average is $20.32.

Institutional Trading of Grupo Aeromexico

Hedge funds have recently bought and sold shares of the stock. Strategic Value Partners LLC purchased a new stake in Grupo Aeromexico in the fourth quarter worth about $208,318,000. Seven Grand Managers LLC bought a new position in shares of Grupo Aeromexico during the 4th quarter valued at approximately $3,294,000. Zweig DiMenna Associates LLC purchased a new stake in Grupo Aeromexico in the 4th quarter worth approximately $1,976,000. Norges Bank bought a new stake in Grupo Aeromexico during the 4th quarter worth approximately $8,784,000. Finally, Goldman Sachs Group Inc. bought a new stake in Grupo Aeromexico during the 4th quarter worth approximately $3,968,000.

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.