Macquarie Infrastructure (MIC) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Macquarie Infrastructure (NYSE:MIC) from a sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Macquarie owns, operate and invests in a diversified group of infrastructure businesses, which provide basic, everyday services, in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin), a UK regulated water utility and in Macquarie Communications Infrastructure Group. “

Separately, SunTrust Banks dropped their price objective on shares of Macquarie Infrastructure to $75.00 and set a buy rating for the company in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Macquarie Infrastructure has an average rating of Hold and an average price target of $83.75.

Macquarie Infrastructure (MIC) traded down $0.80 during mid-day trading on Wednesday, hitting $63.58. 746,142 shares of the company were exchanged, compared to its average volume of 901,797. Macquarie Infrastructure has a 1 year low of $63.08 and a 1 year high of $83.48. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.93 and a current ratio of 1.07. The stock has a market capitalization of $5,380.00, a price-to-earnings ratio of 30.71 and a beta of 0.87.

Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, November 1st. The conglomerate reported $0.48 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.22). Macquarie Infrastructure had a return on equity of 5.66% and a net margin of 9.82%. research analysts anticipate that Macquarie Infrastructure will post 1.81 EPS for the current fiscal year.

In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 2,151 shares of Macquarie Infrastructure stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $66.07, for a total transaction of $142,116.57. Following the completion of the transaction, the director now directly owns 46,925 shares of the company’s stock, valued at $3,100,334.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Norman H. Brown, Jr. sold 1,732 shares of Macquarie Infrastructure stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $65.87, for a total transaction of $114,086.84. Following the transaction, the director now directly owns 49,076 shares of the company’s stock, valued at $3,232,636.12. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MIC. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Macquarie Infrastructure during the second quarter worth $206,000. FNY Partners Fund LP boosted its stake in shares of Macquarie Infrastructure by 200.0% during the third quarter. FNY Partners Fund LP now owns 3,000 shares of the conglomerate’s stock valued at $216,000 after purchasing an additional 2,000 shares during the period. Sigma Planning Corp purchased a new stake in shares of Macquarie Infrastructure during the third quarter valued at $221,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Macquarie Infrastructure during the second quarter valued at $233,000. Finally, Comerica Bank boosted its stake in shares of Macquarie Infrastructure by 2.0% during the second quarter. Comerica Bank now owns 3,158 shares of the conglomerate’s stock valued at $240,000 after purchasing an additional 63 shares during the period. 75.72% of the stock is owned by 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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