Zacks Investment Research Downgrades Mesa Air Group (NASDAQ:MESA) to Sell

Mesa Air Group (NASDAQ:MESA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, 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. “

A number of other brokerages also recently weighed in on MESA. B. Riley set a $18.00 price target on TiVo and gave the company a “buy” rating in a report on Friday, July 12th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $15.57.

Shares of MESA opened at $10.14 on Tuesday. The firm has a 50 day simple moving average of $9.85. Mesa Air Group has a 52-week low of $6.36 and a 52-week high of $16.41. The firm has a market cap of $292.46 million and a price-to-earnings ratio of 8.24. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.62 and a current ratio of 0.71.

Mesa Air Group (NASDAQ:MESA) last announced its earnings results on Thursday, May 9th. The company reported $0.46 earnings per share (EPS) 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 business had revenue of $177.15 million during the quarter, compared to analyst estimates of $178.75 million. On average, analysts anticipate that Mesa Air Group will post 2.15 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund bought a new stake in shares of Mesa Air Group in the 4th quarter valued at approximately $73,000. Rhumbline Advisers bought a new stake in shares of Mesa Air Group in the 4th quarter valued at approximately $92,000. Hancock Whitney Corp bought a new stake in shares of Mesa Air Group in the 4th quarter valued at approximately $108,000. Alambic Investment Management L.P. bought a new stake in shares of Mesa Air Group in the 1st quarter valued at approximately $144,000. Finally, Barclays PLC increased its holdings in shares of Mesa Air Group by 537.6% in the 4th quarter. Barclays PLC now owns 23,899 shares of the company’s stock valued at $184,000 after acquiring an additional 20,151 shares during the last quarter. Institutional investors and hedge funds own 70.54% 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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