Macquarie Infrastructure Company (MIC) Stock Rating Lowered by Barclays PLC
Macquarie Infrastructure Company (NYSE:MIC) was downgraded by equities research analysts at Barclays PLC from an “overweight” rating to a “hold” rating in a report released on Tuesday.
A number of other brokerages also recently issued reports on MIC. Zacks Investment Research raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. SunTrust Banks, Inc. assumed coverage on Macquarie Infrastructure in a research report on Tuesday, March 21st. They issued a “buy” rating and a $92.00 target price for the company. Finally, BidaskClub raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Macquarie Infrastructure presently has an average rating of “Buy” and a consensus target price of $90.25.
Shares of Macquarie Infrastructure (MIC) traded down 2.56% during midday trading on Tuesday, hitting $75.99. The company’s stock had a trading volume of 406,927 shares. Macquarie Infrastructure has a 1-year low of $73.24 and a 1-year high of $85.45. The company has a market cap of $6.26 billion, a P/E ratio of 37.92 and a beta of 0.93. The company has a 50-day moving average price of $77.92 and a 200 day moving average price of $79.38.
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A number of hedge funds have recently modified their holdings of MIC. RMB Capital Management LLC bought a new stake in shares of Macquarie Infrastructure during the fourth quarter worth approximately $13,305,000. Bank of Montreal Can raised its stake in shares of Macquarie Infrastructure by 2.2% in the first quarter. Bank of Montreal Can now owns 194,928 shares of the conglomerate’s stock worth $15,707,000 after buying an additional 4,271 shares in the last quarter. American National Insurance Co. TX bought a new stake in shares of Macquarie Infrastructure during the first quarter worth approximately $419,000. DekaBank Deutsche Girozentrale raised its stake in shares of Macquarie Infrastructure by 142.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,338 shares of the conglomerate’s stock worth $449,000 after buying an additional 3,138 shares in the last quarter. Finally, Comerica Bank bought a new stake in shares of Macquarie Infrastructure during the fourth quarter worth approximately $273,000. 86.74% of the stock is owned by hedge funds and other institutional investors.
About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
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