B. Riley initiated coverage on shares of Mesa Air Group (NASDAQ:MESA) in a research note issued to investors on Friday, Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. B. Riley’s price objective would indicate a potential upside of 70.03% from the stock’s current price.
Several other research firms have also recently commented on MESA. Zacks Investment Research cut shares of KKR & Co Inc from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $15.57.
Shares of MESA opened at $9.41 on Friday. The stock has a 50 day simple moving average of $9.74. The firm has a market cap of $274.33 million and a PE ratio of 7.65. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.71 and a quick ratio of 0.62. 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 announced its quarterly earnings data on Thursday, May 9th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 return on equity of 17.46% and a net margin of 5.76%. On average, equities research analysts forecast that Mesa Air Group will post 2.14 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. lifted its stake in Mesa Air Group by 76.8% in the first quarter. Marshall Wace North America L.P. now owns 23,986 shares of the company’s stock valued at $200,000 after acquiring an additional 10,417 shares during the last quarter. Altimeter Capital Management LP lifted its stake in Mesa Air Group by 55.2% in the fourth quarter. Altimeter Capital Management LP now owns 186,198 shares of the company’s stock valued at $1,436,000 after acquiring an additional 66,198 shares during the last quarter. BlackRock Inc. lifted its stake 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 acquiring an additional 62,402 shares during the last quarter. FMR LLC lifted its stake in Mesa Air Group by 88.5% in the fourth quarter. FMR LLC now owns 322,300 shares of the company’s stock valued at $2,485,000 after acquiring an additional 151,300 shares during the last quarter. Finally, Rhumbline Advisers acquired a new stake in Mesa Air Group in the fourth quarter valued at approximately $92,000. Hedge funds and other institutional investors own 70.54% of the company’s stock.
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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