Grupo Aeromexico (NYSE:AERO) Cut to Strong Sell at Zacks Research

Grupo Aeromexico (NYSE:AERO) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages also recently commented on AERO. JPMorgan Chase & Co. cut their target price on Grupo Aeromexico from $28.50 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. The Goldman Sachs Group upgraded Grupo Aeromexico to a “strong-buy” rating in a research note on Monday, April 13th. Wall Street Zen downgraded Grupo Aeromexico from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Barclays cut their target price on Grupo Aeromexico from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Finally, Weiss Ratings downgraded Grupo Aeromexico from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.43.

Grupo Aeromexico Trading Down 0.2%

Shares of Grupo Aeromexico stock opened at $16.30 on Thursday. The stock has a market cap of $2.22 billion and a price-to-earnings ratio of 19.88. Grupo Aeromexico has a 1 year low of $12.26 and a 1 year high of $23.05. The company’s fifty day simple moving average is $15.30.

Grupo Aeromexico (NYSE:AERO) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.07 by $998.93. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. Grupo Aeromexico had a negative return on equity of 41.04% and a net margin of 6.17%. As a group, equities analysts forecast that Grupo Aeromexico will post 1.13 EPS for the current fiscal year.

Institutional Trading of Grupo Aeromexico

Large investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of Grupo Aeromexico during the 1st quarter valued at about $163,000. Federated Hermes Inc. bought a new stake in shares of Grupo Aeromexico during the 4th quarter valued at about $220,000. Sandia Investment Management LP bought a new stake in shares of Grupo Aeromexico during the 4th quarter valued at about $220,000. Quarry LP bought a new stake in shares of Grupo Aeromexico during the 4th quarter valued at about $232,000. Finally, VR Advisory Services Ltd bought a new stake in shares of Grupo Aeromexico during the 4th quarter valued at about $259,000.

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.