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:PAC) from a neutral rating to an underperform rating in a research note released on Thursday, MarketBeat reports.

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

Grupo Aeroportuario del Pacífico Stock Down 1.9%

Shares of Grupo Aeroportuario del Pacífico stock opened at $232.87 on Thursday. The stock has a 50-day moving average price of $212.17 and a 200 day moving average price of $196.43. The company has a market cap of $11.77 billion, a P/E ratio of 23.15, a P/E/G ratio of 1.28 and a beta of 1.12. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 2.08. Grupo Aeroportuario del Pacífico has a 1 year low of $146.62 and a 1 year high of $241.62.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last posted its quarterly earnings results on Tuesday, April 29th. The transportation company reported $2.72 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.41). Grupo Aeroportuario del Pacífico had a return on equity of 43.75% and a net margin of 27.04%. The firm had revenue of $541.03 million for the quarter, compared to analysts’ expectations of $554.93 million. As a group, analysts expect that Grupo Aeroportuario del Pacífico will post 10 EPS for the current fiscal year.

Grupo Aeroportuario del Pacífico Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in Grupo Aeroportuario del Pacífico by 60.2% during the fourth quarter. Bank of America Corp DE now owns 17,736 shares of the transportation company’s stock valued at $3,104,000 after purchasing an additional 6,665 shares during the last quarter. Northern Trust Corp lifted its position in shares of Grupo Aeroportuario del Pacífico by 1,688.3% in the fourth quarter. Northern Trust Corp now owns 75,536 shares of the transportation company’s stock valued at $13,218,000 after buying an additional 71,312 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Grupo Aeroportuario del Pacífico by 7.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 2,908 shares of the transportation company’s stock valued at $509,000 after buying an additional 194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Grupo Aeroportuario del Pacífico by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 811 shares of the transportation company’s stock valued at $144,000 after buying an additional 237 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Grupo Aeroportuario del Pacífico by 8,020.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 406 shares of the transportation company’s stock valued at $71,000 after buying an additional 401 shares during the last quarter. 11.73% of the stock is currently owned by institutional investors.

Grupo Aeroportuario del Pacífico Company Profile

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.