Grupo Aeroportuario del Pacífico (NYSE:PAC) Downgraded to “Sector Perform” at Scotiabank

Grupo Aeroportuario del Pacífico (NYSE:PAC) was downgraded by research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $185.00 price target on the transportation company’s stock, down from their previous price target of $224.00. Scotiabank’s price target suggests a potential upside of 2.48% from the stock’s previous close.

Several other brokerages also recently weighed in on PAC. Bank of America raised Grupo Aeroportuario del Pacífico from a “neutral” rating to a “buy” rating in a report on Wednesday, August 28th. The Goldman Sachs Group lifted their target price on shares of Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a research note on Thursday, September 5th. Finally, Citigroup upgraded shares of Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

Grupo Aeroportuario del Pacífico Price Performance

Shares of PAC opened at $180.52 on Wednesday. The company has a 50 day moving average of $166.78 and a two-hundred day moving average of $167.67. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.56. Grupo Aeroportuario del Pacífico has a twelve month low of $107.25 and a twelve month high of $197.31. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.68 and a beta of 1.47.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last issued its quarterly earnings data on Monday, July 22nd. The transportation company reported $2.55 EPS for the quarter, missing the consensus estimate of $3.01 by ($0.46). Grupo Aeroportuario del Pacífico had a net margin of 29.26% and a return on equity of 47.50%. The business had revenue of $421.54 million for the quarter. As a group, analysts predict that Grupo Aeroportuario del Pacífico will post 9.88 earnings per share for the current fiscal year.

Institutional Trading of Grupo Aeroportuario del Pacífico

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in Grupo Aeroportuario del Pacífico by 70.8% in the first quarter. BNP Paribas Financial Markets now owns 14,706 shares of the transportation company’s stock valued at $2,400,000 after purchasing an additional 6,097 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Grupo Aeroportuario del Pacífico by 141.5% in the 1st quarter. Lazard Asset Management LLC now owns 481,256 shares of the transportation company’s stock valued at $78,526,000 after buying an additional 281,966 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Grupo Aeroportuario del Pacífico during the first quarter worth about $2,676,000. Marshall Financial Group LLC acquired a new stake in Grupo Aeroportuario del Pacífico during the second quarter worth about $867,000. Finally, SG Americas Securities LLC purchased a new position in Grupo Aeroportuario del Pacífico during the second quarter valued at approximately $242,000. Institutional investors and hedge funds own 11.73% of the company’s stock.

About Grupo Aeroportuario del Pacífico

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.