Mesa Air Group (NASDAQ:MESA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Mesa Air Group (NASDAQ:MESA) from a hold rating to a strong sell rating in a report released on Thursday morning, Zacks.com reports.

According to Zacks, “Mesa Air Group, Inc. provides airlines services. The Company offers passenger transportation and regional air services. Mesa Air Group, Inc. is based in Phoenix, Arizona. “

MESA has been the subject of several other reports. Stifel Nicolaus set a $10.00 price objective on Mesa Air Group and gave the company a buy rating in a report on Monday, August 12th. Cowen reissued an outperform rating and set a $9.00 price target (down previously from $12.00) on shares of Mesa Air Group in a report on Monday, August 12th. B. Riley initiated coverage on Mesa Air Group in a report on Friday, July 12th. They set a buy rating and a $16.00 price target for the company. Finally, ValuEngine cut Mesa Air Group from a hold rating to a sell rating in a report on Thursday, August 1st. Two investment 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. The company presently has an average rating of Buy and an average price target of $13.86.

Shares of NASDAQ MESA opened at $6.14 on Thursday. The stock has a market capitalization of $183.14 million and a PE ratio of 4.99. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.64 and a quick ratio of 0.62. The business has a fifty day moving average price of $9.22 and a two-hundred day moving average price of $9.21. Mesa Air Group has a fifty-two week low of $5.35 and a fifty-two week high of $16.41.

Mesa Air Group (NASDAQ:MESA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.25). The company had revenue of $180.22 million during the quarter, compared to analyst estimates of $182.91 million. Mesa Air Group had a net margin of 7.68% and a return on equity of 16.32%. Mesa Air Group’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. On average, equities analysts expect that Mesa Air Group will post 1.82 EPS for the current year.

Several institutional investors have recently bought and sold shares of MESA. First Quadrant L P CA boosted its position in shares of Mesa Air Group by 49.5% during the 2nd quarter. First Quadrant L P CA now owns 3,933 shares of the company’s stock valued at $36,000 after purchasing an additional 1,303 shares in the last quarter. Rhumbline Advisers raised its stake in Mesa Air Group by 14.3% during the 1st quarter. Rhumbline Advisers now owns 13,667 shares of the company’s stock worth $114,000 after buying an additional 1,707 shares during the period. Parallel Advisors LLC acquired a new position in Mesa Air Group during the 2nd quarter worth approximately $39,000. Steward Partners Investment Advisory LLC acquired a new position in Mesa Air Group during the 2nd quarter worth approximately $42,000. Finally, Northern Trust Corp raised its stake in Mesa Air Group by 4.6% during the 4th quarter. Northern Trust Corp now owns 118,776 shares of the company’s stock worth $915,000 after buying an additional 5,186 shares during the period. 67.34% of the stock is owned by institutional investors.

About Mesa Air Group

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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