Grupo Aeromexico (NYSE:AERO) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Grupo Aeromexico from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $28.06.
• Shares opened at $15.90, with a 52-week range of $12.26 to $23.05 and a market capitalization of approximately $2.17 billion.
• The airline reported quarterly EPS of -$0.40, missing estimates of -$0.37, on revenue of $1.48 billion; an insider also sold 350,000 shares, reducing their position by 17.78%.

Grupo Aeromexico (NYSE:AERO - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Jefferies Financial Group began coverage on Grupo Aeromexico in a research note on Thursday, June 18th. They set a "hold" rating and a $20.00 target price on the stock. Weiss Ratings downgraded Grupo Aeromexico from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, July 17th. JPMorgan Chase & Co. cut their price objective on shares of Grupo Aeromexico from $28.00 to $26.50 and set an "overweight" rating for the company in a report on Friday, June 12th. Finally, Wall Street Zen cut shares of Grupo Aeromexico from a "buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.06.

Grupo Aeromexico Stock Performance

Shares of Grupo Aeromexico stock opened at $15.90 on Wednesday. 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 $2.17 billion and a P/E ratio of 37.86. The company has a fifty day moving average of $16.46 and a 200 day moving average of $16.47.

Grupo Aeromexico (NYSE:AERO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.03). Grupo Aeromexico had a net margin of 3.78% and a negative return on equity of 25.10%. The business had revenue of $1.48 billion for the quarter. Analysts forecast that Grupo Aeromexico will post 1.05 EPS for the current year.

Insider Transactions at Grupo Aeromexico

In other news, insider Aaron James Murray sold 350,000 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $1.56, for a total transaction of $546,000.00. Following the sale, the insider directly owned 1,618,130 shares of the company's stock, valued at $2,524,282.80. This represents a 17.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Grupo Aeromexico

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in Grupo Aeromexico by 25.8% during the first quarter. Bank of America Corp DE now owns 1,439,555 shares of the company's stock valued at $20,168,000 after purchasing an additional 295,646 shares during the last quarter. Oaktree Capital Management LP increased its holdings in shares of Grupo Aeromexico by 5.1% in the 1st quarter. Oaktree Capital Management LP now owns 3,968,686 shares of the company's stock worth $55,601,000 after buying an additional 191,700 shares during the last quarter. Rubric Capital Management LP bought a new stake in shares of Grupo Aeromexico in the 1st quarter worth about $6,544,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Grupo Aeromexico during the 1st quarter valued at about $3,502,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Grupo Aeromexico during the 1st quarter valued at about $56,000.

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.

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