Macquarie Infrastructure Company Sees Strong Trading Volume on Analyst Upgrade (MIC)
Macquarie Infrastructure Company (NYSE:MIC) saw an uptick in trading volume on Friday after Oppenheimer raised their price target on the stock from $65.00 to $77.00, AnalystRatingsNetwork reports. Oppenheimer currently has an outperform rating on the stock. 853,291 shares changed hands during trading, an increase of 28% from the previous session’s volume of 668,513 shares.The stock last traded at $67.98 and had previously closed at $66.73.
A number of other firms have also recently commented on MIC. Analysts at Macquarie downgraded shares of Macquarie Infrastructure Company from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 8th. They now have a $58.30 price target on the stock. Analysts at Ned Davis Research upgraded shares of Macquarie Infrastructure Company from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $58.51.
The stock’s 50-day moving average is $61.43 and its 200-day moving average is $57.10. The company has a market cap of $3.866 billion and a P/E ratio of 78.14.
Macquarie Infrastructure Company (NYSE:MIC) last announced its earnings results on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.36. On average, analysts predict that Macquarie Infrastructure Company will post $1.91 earnings per share for the current fiscal year.
Macquarie Infrastructure Company LLC (NYSE:MIC) owns, operates and invests in a diversified group of infrastructure businesses in the United States.
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