Brokerages Set Grupo Aeromexico (NYSE:AERO) Target Price at $29.43

Shares of Grupo Aeromexico (NYSE:AERO) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $29.4286.

A number of equities research analysts recently weighed in on AERO shares. Citigroup assumed coverage on Grupo Aeromexico in a research note on Wednesday, December 17th. They issued a “buy” rating and a $27.00 price target on the stock. Itau BBA Securities assumed coverage on shares of Grupo Aeromexico in a research report on Sunday, November 30th. They set an “outperform” rating for the company. Wall Street Zen upgraded shares of Grupo Aeromexico from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings initiated coverage on shares of Grupo Aeromexico in a research report on Tuesday, February 3rd. They issued a “hold (c)” rating on the stock. Finally, Morgan Stanley assumed coverage on shares of Grupo Aeromexico in a research note on Wednesday, December 17th. They set an “overweight” rating and a $30.00 target price for the company.

Grupo Aeromexico Stock Performance

AERO opened at $13.82 on Friday. Grupo Aeromexico has a 12-month low of $12.26 and a 12-month high of $23.05. The company has a 50 day simple moving average of $17.78. The firm has a market capitalization of $1.89 billion and a PE ratio of 18.43.

Institutional Investors Weigh In On Grupo Aeromexico

A number of institutional investors have recently made changes to their positions in AERO. Mariner Investment Group LLC acquired a new stake in Grupo Aeromexico during the fourth quarter worth approximately $3,717,000. XTX Topco Ltd bought a new stake in shares of Grupo Aeromexico during the 4th quarter valued at $301,000. Zimmer Partners LP bought a new stake in shares of Grupo Aeromexico during the 4th quarter valued at $23,286,000. VR Advisory Services Ltd acquired a new stake in shares of Grupo Aeromexico during the 4th quarter worth $259,000. Finally, Readystate Asset Management LP acquired a new stake in shares of Grupo Aeromexico during the 4th quarter worth $3,009,000.

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.