Grupo Aeromexico (NYSE:AERO) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Grupo Aeromexico (NYSE:AERO) from a buy rating to a hold rating in a research note published on Sunday morning.

AERO has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price objective 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 note on Monday, April 13th. Barclays dropped their price objective on Grupo Aeromexico from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Finally, Weiss Ratings assumed coverage on Grupo Aeromexico in a research note on Tuesday, February 3rd. They issued a “hold (c)” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.43.

Grupo Aeromexico Stock Performance

NYSE AERO opened at $14.98 on Friday. The company has a market capitalization of $2.04 billion and a price-to-earnings ratio of 18.27. The stock has a 50-day simple moving average of $15.53. Grupo Aeromexico has a twelve month low of $12.26 and a twelve month high of $23.05.

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

Institutional Investors Weigh In On Grupo Aeromexico

A number of hedge funds have recently made changes to their positions in the company. Par Capital Management Inc. purchased a new stake in shares of Grupo Aeromexico in the fourth quarter worth about $304,155,000. Silver Point Capital L.P. purchased a new stake in shares of Grupo Aeromexico in the fourth quarter worth about $289,274,000. Strategic Value Partners LLC purchased a new stake in shares of Grupo Aeromexico in the fourth quarter worth about $208,318,000. Nut Tree Capital Management LP purchased a new stake in shares of Grupo Aeromexico in the fourth quarter worth about $130,652,000. Finally, Baupost Group LLC MA purchased a new stake in shares of Grupo Aeromexico in the fourth quarter worth 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.