Grupo Aeroportuario Del Pacifico (NYSE:PAC) Sets New 1-Year Low – Here’s Why

Shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC) reached a new 52-week low on Wednesday. The stock traded as low as $192.65 and last traded at $194.7310, with a volume of 12,297 shares. The stock had previously closed at $198.97.

Analyst Ratings Changes

PAC has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on Grupo Aeroportuario Del Pacifico from $312.00 to $275.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Zacks Research raised Grupo Aeroportuario Del Pacifico from a “strong sell” rating to a “hold” rating in a research note on Monday, September 21st. Wall Street Zen raised shares of Grupo Aeroportuario Del Pacifico from a “sell” rating to a “hold” rating in a research note on Sunday, September 27th. Weiss Ratings restated a “hold (c)” rating on shares of Grupo Aeroportuario Del Pacifico in a research report on Monday, August 31st. Finally, Morgan Stanley raised shares of Grupo Aeroportuario Del Pacifico from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $210.00 to $225.00 in a research note on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Grupo Aeroportuario Del Pacifico Price Performance

The stock has a market cap of $9.98 billion, a P/E ratio of 17.54, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. The business’s 50 day moving average price is $207.70 and its two-hundred day moving average price is $229.17. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.

Grupo Aeroportuario Del Pacifico (NYSE:PAC) last posted its earnings results on Monday, July 13th. The transportation company reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.30). The firm had revenue of $645.23 million for the quarter, compared to analysts’ expectations of $732.26 million. Grupo Aeroportuario Del Pacifico had a return on equity of 32.44% and a net margin of 25.36%. As a group, sell-side analysts expect that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 11.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grupo Aeroportuario Del Pacifico

A number of hedge funds have recently added to or reduced their stakes in PAC. Lazard Asset Management LLC raised its position in Grupo Aeroportuario Del Pacifico by 1.6% in the 1st quarter. Lazard Asset Management LLC now owns 1,172,634 shares of the transportation company’s stock worth $289,488,000 after buying an additional 18,139 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Grupo Aeroportuario Del Pacifico by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 156,890 shares of the transportation company’s stock valued at $38,699,000 after purchasing an additional 2,090 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Grupo Aeroportuario Del Pacifico by 185.0% in the 1st quarter. Bank of America Corp DE now owns 83,866 shares of the transportation company’s stock worth $20,704,000 after purchasing an additional 54,439 shares during the period. Empirical Finance LLC raised its position in Grupo Aeroportuario Del Pacifico by 148.1% in the first quarter. Empirical Finance LLC now owns 74,607 shares of the transportation company’s stock worth $18,418,000 after acquiring an additional 44,531 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Grupo Aeroportuario Del Pacifico by 148.1% during the 1st quarter. Empowered Funds LLC now owns 74,607 shares of the transportation company’s stock valued at $18,418,000 after acquiring an additional 44,531 shares during the period. 11.73% of the stock is currently owned by hedge funds and other institutional investors.

About Grupo Aeroportuario Del Pacifico

Grupo Aeroportuario del Pacífico, SAB. de C.V. (NYSE: PAC), commonly known as GAP, is a Mexican airport operator that develops, manages and maintains airports under long-term concessions. Its activities include passenger and aircraft services, terminal operations, parking, commercial areas, retail, food and beverage, advertising, car rentals and other airport-related services.

GAP operates a portfolio of airports in western and central Mexico, including Guadalajara, Tijuana, Puerto Vallarta, Los Cabos, León, Hermosillo, Mexicali, La Paz, Aguascalientes, Morelia, Manzanillo and Los Mochis.