Grupo Aeroportuario del Pacífico (NYSE:PAC) Downgraded to “Underperform” Rating by Bank of America

Bank of America lowered shares of Grupo Aeroportuario del Pacífico (NYSE:PACFree Report) from a neutral rating to an underperform rating in a research note released on Thursday morning, MarketBeat.com reports.

PAC has been the topic of several other reports. Jefferies Financial Group raised Grupo Aeroportuario del Pacífico from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $140.00 to $210.00 in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised Grupo Aeroportuario del Pacífico from an “underweight” rating to a “neutral” rating in a report on Friday, May 23rd. Wall Street Zen raised Grupo Aeroportuario del Pacífico from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Scotiabank raised Grupo Aeroportuario del Pacífico from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.00.

Read Our Latest Report on PAC

Grupo Aeroportuario del Pacífico Trading Down 1.9%

Shares of PAC opened at $232.87 on Thursday. Grupo Aeroportuario del Pacífico has a 52-week low of $146.62 and a 52-week high of $241.62. The business’s fifty day moving average is $212.17 and its 200-day moving average is $196.43. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 1.28 and a beta of 1.12.

Grupo Aeroportuario del Pacífico (NYSE:PACGet Free Report) last released its quarterly earnings data on Tuesday, April 29th. The transportation company reported $2.72 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.41). Grupo Aeroportuario del Pacífico had a net margin of 27.04% and a return on equity of 43.75%. The firm had revenue of $541.03 million for the quarter, compared to analyst estimates of $554.93 million. Equities analysts anticipate that Grupo Aeroportuario del Pacífico will post 10 EPS for the current fiscal year.

Grupo Aeroportuario del Pacífico Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th were issued a dividend of $4.3222 per share. This represents a yield of 3.4%. This is a positive change from Grupo Aeroportuario del Pacífico’s previous semi-annual dividend of $3.87. The ex-dividend date was Tuesday, May 27th. Grupo Aeroportuario del Pacífico’s dividend payout ratio is 40.89%.

Hedge Funds Weigh In On Grupo Aeroportuario del Pacífico

Several institutional investors and hedge funds have recently bought and sold shares of PAC. Blue Trust Inc. boosted its holdings in shares of Grupo Aeroportuario del Pacífico by 13.6% in the fourth quarter. Blue Trust Inc. now owns 443 shares of the transportation company’s stock worth $78,000 after acquiring an additional 53 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Grupo Aeroportuario del Pacífico by 20.3% in the first quarter. Parallel Advisors LLC now owns 350 shares of the transportation company’s stock worth $65,000 after acquiring an additional 59 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Grupo Aeroportuario del Pacífico by 2.2% in the first quarter. Kestra Private Wealth Services LLC now owns 2,973 shares of the transportation company’s stock worth $552,000 after acquiring an additional 65 shares during the period. Signaturefd LLC boosted its holdings in shares of Grupo Aeroportuario del Pacífico by 32.1% in the fourth quarter. Signaturefd LLC now owns 333 shares of the transportation company’s stock worth $58,000 after acquiring an additional 81 shares during the period. Finally, US Bancorp DE boosted its stake in Grupo Aeroportuario del Pacífico by 22.1% during the fourth quarter. US Bancorp DE now owns 547 shares of the transportation company’s stock valued at $96,000 after buying an additional 99 shares during the period. 11.73% of the stock is owned by institutional investors.

Grupo Aeroportuario del Pacífico Company Profile

(Get Free Report)

Grupo Aeroportuario del Pacífico, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and manage airports in Mexico and Jamaica. The company operates twelve international airports in Guadalajara and Tijuana areas, Mexico; and two international airports in Montego Bay, Jamaica.

Further Reading

Analyst Recommendations for Grupo Aeroportuario del Pacífico (NYSE:PAC)

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