ValuEngine Downgrades Mesa Air Group (NASDAQ:MESA) to Sell

Mesa Air Group (NASDAQ:MESA) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on MESA. B. Riley assumed coverage on Mesa Air Group in a research note on Friday, July 12th. They issued a “buy” rating and a $16.00 price objective for the company. Zacks Investment Research cut Mesa Air Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Mesa Air Group currently has a consensus rating of “Buy” and a consensus target price of $15.57.

Shares of NASDAQ MESA traded down $0.35 during trading on Thursday, reaching $9.46. The stock had a trading volume of 253,876 shares, compared to its average volume of 227,269. Mesa Air Group has a fifty-two week low of $6.36 and a fifty-two week high of $16.41. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.62 and a current ratio of 0.71. The stock has a 50-day moving average price of $10.03. The stock has a market capitalization of $272.35 million and a P/E ratio of 7.69.

Mesa Air Group (NASDAQ:MESA) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). Mesa Air Group had a net margin of 5.76% and a return on equity of 17.46%. The firm had revenue of $177.15 million during the quarter, compared to analyst estimates of $178.75 million. Research analysts expect that Mesa Air Group will post 2.15 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Axar Capital Management L.P. purchased a new position in Mesa Air Group in the first quarter valued at $11,090,000. JPMorgan Chase & Co. boosted its holdings in Mesa Air Group by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 862,869 shares of the company’s stock valued at $7,197,000 after purchasing an additional 18,703 shares during the period. Wedge Capital Management L L P NC purchased a new position in Mesa Air Group in the second quarter valued at $7,660,000. Parkwood LLC purchased a new position in Mesa Air Group in the first quarter valued at $6,255,000. Finally, BlackRock Inc. boosted its holdings in Mesa Air Group by 9.3% in the fourth quarter. BlackRock Inc. now owns 730,969 shares of the company’s stock valued at $5,636,000 after purchasing an additional 62,402 shares during the period. Hedge funds and other institutional investors own 69.36% of the company’s stock.

Mesa Air Group Company Profile

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc, which provides regional air carrier services under capacity purchase agreements with the American Airlines and the United Airlines. As of September 30, 2018, it operated a fleet of 145 aircraft with approximately 730 daily departures to 110 cities in the United States, Canada, Mexico, Cuba, and the Bahamas.

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Analyst Recommendations for Mesa Air Group (NASDAQ:MESA)

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