Grupo Aeromexico (NYSE:AERO) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Grupo Aeromexico (NYSE:AERO) from "hold" to "buy," joining other upgrades including Goldman Sachs' "strong-buy"; MarketBeat data shows a consensus of "Moderate Buy" with an average target price of $29.43.
• Shares opened at $15.02 with a market cap of $2.05 billion, a P/E of 20.02, a 50-day SMA of $15.91, and a 1-year trading range of $12.26–$23.05.
• The company reported an outsized quarterly EPS of $999.00 versus analysts' estimate of $0.07, and analysts project about 1.08 EPS for the current year.

Grupo Aeromexico (NYSE:AERO - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other brokerages also recently commented on AERO. The Goldman Sachs Group upgraded shares of Grupo Aeromexico to a "strong-buy" rating in a report on Monday, April 13th. Weiss Ratings initiated coverage on shares of Grupo Aeromexico in a report on Tuesday, February 3rd. They set a "hold (c)" rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Grupo Aeromexico from $28.50 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, March 12th. Finally, Barclays decreased their target price on shares of Grupo Aeromexico from $32.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Grupo Aeromexico currently has an average rating of "Moderate Buy" and an average target price of $29.43.

Grupo Aeromexico Stock Up 0.9%

Grupo Aeromexico stock opened at $15.02 on Friday. The company has a market cap of $2.05 billion and a P/E ratio of 20.02. The firm's fifty day simple moving average is $15.91. Grupo Aeromexico has a 1-year low of $12.26 and a 1-year high of $23.05.

Grupo Aeromexico (NYSE:AERO - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The company reported $999.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $998.93. As a group, equities research analysts anticipate that Grupo Aeromexico will post 1.08 EPS for the current year.

Hedge Funds Weigh In On Grupo Aeromexico

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Par Capital Management Inc. acquired a new position in Grupo Aeromexico in the fourth quarter valued at about $304,155,000. Silver Point Capital L.P. acquired a new position in Grupo Aeromexico in the fourth quarter valued at about $289,274,000. Strategic Value Partners LLC acquired a new position in Grupo Aeromexico in the fourth quarter valued at about $208,318,000. Nut Tree Capital Management LP acquired a new position in Grupo Aeromexico in the fourth quarter valued at about $130,652,000. Finally, Baupost Group LLC MA acquired a new position in Grupo Aeromexico in the fourth quarter valued at about $106,620,000.

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.

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