Grupo Aeromexico (NYSE:AERO) Stock Has Average Price Target of $28.06

Grupo Aeromexico (NYSE:AERO) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $28.06.

AERO has been the subject of several research reports. Zacks Research cut shares of Grupo Aeromexico from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings raised Grupo Aeromexico from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 30th. Finally, Wall Street Zen downgraded Grupo Aeromexico from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th.

Insider Activity

In related news, insider Aaron Murray sold 355,600 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $1.58, for a total transaction of $561,848.00. Following the completion of the sale, the insider owned 1,262,530 shares of the company’s stock, valued at approximately $1,994,797.40. This represents a 21.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.82% of the company’s stock.

Institutional Investors Weigh In On Grupo Aeromexico

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rubric Capital Management LP bought a new stake in shares of Grupo Aeromexico during the 1st quarter valued at $6,544,000. Bank of America Corp DE boosted its holdings 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 period. The Manufacturers Life Insurance Company acquired a new stake in shares of Grupo Aeromexico during the first quarter worth about $3,502,000. Walleye Capital LLC acquired a new stake in shares of Grupo Aeromexico in the 1st quarter worth $2,969,000. Finally, Oaktree Capital Management LP grew its position 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 valued at $55,601,000 after buying an additional 191,700 shares during the last quarter.

Grupo Aeromexico Stock Performance

Shares of Grupo Aeromexico stock opened at $16.45 on Friday. Grupo Aeromexico has a 52-week low of $12.26 and a 52-week high of $23.05. The company has a 50-day simple moving average of $15.47 and a two-hundred day simple moving average of $16.19. The stock has a market capitalization of $2.24 billion and a PE ratio of 15.67.

Grupo Aeromexico (NYSE:AERO) last issued its earnings results on Tuesday, October 20th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $1.62 billion for the quarter. Grupo Aeromexico had a negative return on equity of 17.43% and a net margin of 2.70%. As a group, equities research analysts forecast that Grupo Aeromexico will post 0.41 EPS for the current fiscal year.

About Grupo Aeromexico

Grupo Aeroméxico, SAB. de C.V. is a Mexico-based airline holding company whose principal business is the operation of scheduled passenger and cargo air transportation services. Its flagship carrier, Aeroméxico, serves domestic destinations in Mexico and international markets across North America, Latin America, Europe and Asia. The company’s operations are centered on Mexico City International Airport, with additional activity through other major Mexican airports.

The group operates passenger flights under the Aeroméxico brand and regional services through Aeroméxico Connect.