Grupo Aeromexico (NYSE:AERO) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Grupo Aeromexico (NYSE:AERO) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.

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

Grupo Aeromexico Stock Down 0.2%

Shares of AERO stock opened at $16.30 on Thursday. The stock has a market cap of $2.22 billion and a PE ratio of 19.88. The company’s 50 day simple moving average is $15.30. Grupo Aeromexico has a 12 month low of $12.26 and a 12 month high of $23.05.

Grupo Aeromexico (NYSE:AERO) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $998.93. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Grupo Aeromexico had a net margin of 6.17% and a negative return on equity of 41.04%. On average, sell-side analysts anticipate that Grupo Aeromexico will post 1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Grupo Aeromexico

A number of institutional investors have recently made changes to their positions in AERO. Par Capital Management Inc. bought a new position in shares of Grupo Aeromexico in the 4th quarter worth $304,155,000. Silver Point Capital L.P. bought a new position in shares of Grupo Aeromexico in the 4th quarter worth $289,274,000. Strategic Value Partners LLC bought a new position in shares of Grupo Aeromexico in the 4th quarter worth $208,318,000. Nut Tree Capital Management LP bought a new position in shares of Grupo Aeromexico in the 4th quarter worth $130,652,000. Finally, Baupost Group LLC MA bought a new position in shares of Grupo Aeromexico in the 4th quarter worth $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.