Grupo Aeromexico (NYSE:AERO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Grupo Aeromexico (NYSE:AERO) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $29.4286.

AERO has been the subject of several analyst reports. JPMorgan Chase & Co. lowered 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 raised Grupo Aeromexico to a “strong-buy” rating in a research report on Monday, April 13th. Zacks Research lowered Grupo Aeromexico from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Barclays cut their target price on Grupo Aeromexico from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Finally, Wall Street Zen raised Grupo Aeromexico from a “hold” rating to a “buy” rating in a research report on Monday, May 11th.

Institutional Trading of Grupo Aeromexico

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Grupo Aeromexico by 25.8% during the 1st quarter. Bank of America Corp DE now owns 1,439,555 shares of the company’s stock valued at $20,168,000 after acquiring an additional 295,646 shares during the last quarter. Oaktree Capital Management LP increased its position in Grupo Aeromexico by 5.1% during the 1st quarter. Oaktree Capital Management LP now owns 3,968,686 shares of the company’s stock worth $55,601,000 after purchasing an additional 191,700 shares during the period. Rubric Capital Management LP acquired a new position in Grupo Aeromexico during the 1st quarter worth approximately $6,544,000. The Manufacturers Life Insurance Company acquired a new position in Grupo Aeromexico during the 1st quarter worth approximately $3,502,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Grupo Aeromexico during the 1st quarter worth approximately $56,000.

Grupo Aeromexico Price Performance

AERO opened at $15.21 on Friday. Grupo Aeromexico has a 12 month low of $12.26 and a 12 month high of $23.05. The firm has a market cap of $2.08 billion and a PE ratio of 18.55. The business’s fifty day moving average is $14.86.

Grupo Aeromexico (NYSE:AERO) last released its earnings results on Tuesday, March 31st. The company reported $0.01 EPS for the quarter. Grupo Aeromexico had a negative return on equity of 41.04% and a net margin of 6.17%.The firm had revenue of $1.34 billion during the quarter. As a group, equities research analysts anticipate that Grupo Aeromexico will post 1.13 EPS for the current year.

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.