Grupo Aeromexico (NYSE:AERO) Reaches New 52-Week Low – Time to Sell?

Grupo Aeromexico (NYSE:AERO)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $16.00 and last traded at $16.19, with a volume of 34607 shares. The stock had previously closed at $16.60.

Analysts Set New Price Targets

AERO has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Grupo Aeromexico from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Citigroup assumed coverage on shares of Grupo Aeromexico in a research report on Wednesday, December 17th. They issued a “buy” rating and a $27.00 price target on the stock. Zacks Research raised shares of Grupo Aeromexico to a “hold” rating in a report on Thursday, December 18th. Itau BBA Securities initiated coverage on shares of Grupo Aeromexico in a research note on Sunday, November 30th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group began coverage on Grupo Aeromexico in a research report on Wednesday, December 17th. They set a “buy” rating and a $35.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.83.

Grupo Aeromexico Trading Down 5.1%

The firm has a 50 day moving average price of $19.91.

Institutional Investors Weigh In On Grupo Aeromexico

Hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. acquired a new position in shares of Grupo Aeromexico during the fourth quarter valued at $220,000. Sandia Investment Management LP bought a new stake in Grupo Aeromexico during the 4th quarter worth about $220,000. Quarry LP bought a new stake in Grupo Aeromexico during the 4th quarter worth about $232,000. VR Advisory Services Ltd acquired a new position in Grupo Aeromexico during the 4th quarter valued at about $259,000. Finally, HRT Financial LP bought a new position in shares of Grupo Aeromexico in the 4th quarter valued at about $295,000.

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.