Equities research analysts at B. Riley started coverage on shares of Mesa Air Group (NASDAQ:MESA) in a research note issued to investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. B. Riley’s price target indicates a potential upside of 61.94% from the company’s current price.
Several other analysts have also recently commented on MESA. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Zacks Investment Research cut KKR & Co Inc from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $15.57.
MESA opened at $9.88 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.71 and a debt-to-equity ratio of 1.70. The company has a 50 day simple moving average of $9.76. The firm has a market cap of $284.41 million and a PE ratio of 5.28. Mesa Air Group has a 12 month low of $6.36 and a 12 month high of $16.41.
Mesa Air Group (NASDAQ:MESA) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). The business had revenue of $177.15 million during the quarter, compared to analyst estimates of $178.75 million. Mesa Air Group had a net margin of 5.76% and a return on equity of 17.46%. As a group, sell-side analysts expect that Mesa Air Group will post 2.14 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Axar Capital Management L.P. purchased a new position in Mesa Air Group during the first quarter worth $11,090,000. Parkwood LLC purchased a new position in Mesa Air Group during the first quarter worth $6,255,000. Formula Growth Ltd. purchased a new position in Mesa Air Group during the first quarter worth $2,729,000. Royce & Associates LP purchased a new position in Mesa Air Group during the first quarter worth $2,294,000. Finally, FMR LLC increased its position in Mesa Air Group by 88.5% during the fourth quarter. FMR LLC now owns 322,300 shares of the company’s stock worth $2,485,000 after buying an additional 151,300 shares in the last quarter. 70.54% of the stock is owned by hedge funds and other institutional investors.
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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