Bank of America Upgrades Grupo Aeroportuario del Pacífico (NYSE:PAC) to Buy

Grupo Aeroportuario del Pacífico (NYSE:PAC) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports.

Grupo Aeroportuario del Pacífico Price Performance

NYSE:PAC opened at $178.22 on Wednesday. Grupo Aeroportuario del Pacífico has a 52-week low of $107.25 and a 52-week high of $197.31. The stock has a fifty day moving average of $159.91 and a 200 day moving average of $163.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.63 and a beta of 1.46.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last posted its quarterly earnings data on Monday, July 22nd. The transportation company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.46). The company had revenue of $421.54 million during the quarter. Grupo Aeroportuario del Pacífico had a return on equity of 47.50% and a net margin of 29.26%. On average, research analysts expect that Grupo Aeroportuario del Pacífico will post 9.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Grupo Aeroportuario del Pacífico

Institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC increased its holdings in shares of Grupo Aeroportuario del Pacífico by 141.5% in the first quarter. Lazard Asset Management LLC now owns 481,256 shares of the transportation company’s stock worth $78,526,000 after buying an additional 281,966 shares during the period. Northcape Capital Pty Ltd increased its stake in Grupo Aeroportuario del Pacífico by 67.9% in the 1st quarter. Northcape Capital Pty Ltd now owns 162,439 shares of the transportation company’s stock worth $26,505,000 after purchasing an additional 65,681 shares during the period. Dimensional Fund Advisors LP lifted its position in Grupo Aeroportuario del Pacífico by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 138,103 shares of the transportation company’s stock valued at $21,515,000 after purchasing an additional 5,481 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Grupo Aeroportuario del Pacífico by 3.0% during the first quarter. Russell Investments Group Ltd. now owns 101,851 shares of the transportation company’s stock valued at $16,619,000 after purchasing an additional 2,941 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in shares of Grupo Aeroportuario del Pacífico in the second quarter worth approximately $13,976,000. Institutional investors own 11.73% of the company’s stock.

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.