Grupo Aeroportuario del Pacífico (NYSE:PAC) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Grupo Aeroportuario del Pacífico (NYSE:PAC) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Grupo Aeroportuario del Pacifico was constituted as part of the process of opening to the private investment the Mexican airport system. Currently the aeronautic infrastructure has become the base of every service of air transportation; constituting this a pole of development around which a series of activities of great economic importance is articulated: business, aeronautic services, commerce, business, etc. It administers, operates, maintains and develops twelve airports in the regions of the Pacific and Center of Mexico, in the cities of Guadalajara, Hermosillo, Puerto Vallarta, Aguascalientes, La Paz, Tijuana, Leon, among other. “

Several other equities research analysts have also issued reports on PAC. Barclays lowered shares of Grupo Aeroportuario del Pacífico from an overweight rating to an equal weight rating in a research report on Monday, November 8th. Citigroup lifted their target price on shares of Grupo Aeroportuario del Pacífico from $151.00 to $153.00 and gave the company a buy rating in a research report on Wednesday, October 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $139.33.

Shares of Grupo Aeroportuario del Pacífico stock opened at $141.09 on Tuesday. Grupo Aeroportuario del Pacífico has a 1 year low of $98.07 and a 1 year high of $144.24. The firm has a market cap of $7.26 billion, a PE ratio of 33.12, a PEG ratio of 0.52 and a beta of 1.42. The company has a debt-to-equity ratio of 1.34, a current ratio of 3.06 and a quick ratio of 3.06. The company has a 50 day simple moving average of $130.87 and a two-hundred day simple moving average of $121.19.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last announced its earnings results on Wednesday, October 27th. The transportation company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.32. Grupo Aeroportuario del Pacífico had a net margin of 28.38% and a return on equity of 21.11%. The business had revenue of $264.44 million during the quarter. As a group, research analysts anticipate that Grupo Aeroportuario del Pacífico will post 5.56 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of PAC. Norway Savings Bank purchased a new position in shares of Grupo Aeroportuario del Pacífico in the third quarter worth $32,000. Total Clarity Wealth Management Inc. purchased a new position in shares of Grupo Aeroportuario del Pacífico in the third quarter worth $64,000. Marshall Wace LLP purchased a new position in shares of Grupo Aeroportuario del Pacífico in the first quarter worth $65,000. Clearbridge Investments LLC purchased a new position in shares of Grupo Aeroportuario del Pacífico in the second quarter worth $203,000. Finally, Citigroup Inc. increased its stake in shares of Grupo Aeroportuario del Pacífico by 5.5% in the second quarter. Citigroup Inc. now owns 1,978 shares of the transportation company’s stock worth $211,000 after buying an additional 103 shares during the period. 94.74% of the stock is currently owned by institutional investors.

Grupo Aeroportuario del Pacífico Company Profile

Grupo Aeroportuario del Pacífico SAB de CV engages in the operation of a international airports in Mexico and Jamaica. It operates through the following segments: Guadalajara, Tijuana, Puerto Vallarta, Los Cabos, Montego Bay, Hermosillo, Bajío, and Other Airports. The company was founded on May 28, 1998 and is headquartered in Guadalajara, Mexico.

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