Analysts Set Macquarie Infrastructure Corp (MIC) PT at $83.67

Shares of Macquarie Infrastructure Corp (NYSE:MIC) have received an average recommendation of “Hold” from the five analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $83.67.

Several research firms recently issued reports on MIC. Zacks Investment Research raised Macquarie Infrastructure from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective for the company in a research note on Wednesday, October 4th. SunTrust Banks dropped their price objective on Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th.

Macquarie Infrastructure (NYSE:MIC) traded up $0.21 during trading hours on Monday, reaching $65.20. The company had a trading volume of 1,384,018 shares, compared to its average volume of 830,806. The company has a market capitalization of $5,510.00, a price-to-earnings ratio of 31.50 and a beta of 0.87. Macquarie Infrastructure has a 12 month low of $63.08 and a 12 month high of $83.48. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 1.11.

In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 2,151 shares of Macquarie Infrastructure stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $66.07, for a total transaction of $142,116.57. Following the completion of the sale, the director now owns 46,925 shares of the company’s stock, valued at $3,100,334.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Norman H. Brown, Jr. sold 1,732 shares of Macquarie Infrastructure stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $65.87, for a total value of $114,086.84. Following the sale, the director now directly owns 49,076 shares of the company’s stock, valued at approximately $3,232,636.12. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of MIC. Verition Fund Management LLC purchased a new position in shares of Macquarie Infrastructure in the second quarter worth about $404,000. Swiss National Bank increased its holdings in shares of Macquarie Infrastructure by 3.2% in the second quarter. Swiss National Bank now owns 284,300 shares of the conglomerate’s stock worth $22,289,000 after buying an additional 8,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Macquarie Infrastructure by 25.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 26,446 shares of the conglomerate’s stock worth $2,073,000 after buying an additional 5,332 shares during the period. Overbrook Management Corp increased its holdings in shares of Macquarie Infrastructure by 3.6% in the second quarter. Overbrook Management Corp now owns 598,148 shares of the conglomerate’s stock worth $46,895,000 after buying an additional 20,688 shares during the period. Finally, WESPAC Advisors LLC increased its holdings in shares of Macquarie Infrastructure by 65.5% in the second quarter. WESPAC Advisors LLC now owns 13,778 shares of the conglomerate’s stock worth $1,080,000 after buying an additional 5,451 shares during the period. 75.72% of the stock is owned by hedge funds and other institutional investors.

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Macquarie Infrastructure Company Profile

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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