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

Scotiabank cut shares of Grupo Aeroportuario del Pacífico (NYSE:PAC) from a sector outperform rating to a sector perform rating in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have $185.00 target price on the transportation company’s stock, down from their previous target price of $224.00.

Several other equities research analysts also recently commented 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. JPMorgan Chase & Co. reiterated an underweight rating on shares of Grupo Aeroportuario del Pacífico in a research note on Thursday, September 5th. The Goldman Sachs Group raised their price objective on shares of Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the company a buy rating in a research note on Friday, August 30th. Finally, Citigroup upgraded shares of Grupo Aeroportuario del Pacífico to a strong-buy rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Grupo Aeroportuario del Pacífico currently has a consensus rating of Moderate Buy and a consensus target price of $195.00.

Grupo Aeroportuario del Pacífico Trading Down 2.7 %

Shares of NYSE PAC opened at $179.81 on Wednesday. Grupo Aeroportuario del Pacífico has a 1 year low of $107.25 and a 1 year high of $197.31. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a 50-day moving average of $166.42 and a 200 day moving average of $167.58. The stock has a market cap of $9.09 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.68 and a beta of 1.47.

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

Grupo Aeroportuario del Pacífico Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were issued a dividend of $3.8657 per share. This represents a dividend yield of 4.7%. The ex-dividend date was Monday, July 22nd. This is an increase from Grupo Aeroportuario del Pacífico’s previous semi-annual dividend of $2.09. Grupo Aeroportuario del Pacífico’s dividend payout ratio (DPR) is presently 33.84%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Naples Global Advisors LLC boosted its holdings in Grupo Aeroportuario del Pacífico by 1.3% in the first quarter. Naples Global Advisors LLC now owns 5,447 shares of the transportation company’s stock worth $889,000 after purchasing an additional 69 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Grupo Aeroportuario del Pacífico by 0.6% in the 1st quarter. Sei Investments Co. now owns 12,446 shares of the transportation company’s stock worth $2,031,000 after buying an additional 73 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Grupo Aeroportuario del Pacífico by 163.0% in the second quarter. Blue Trust Inc. now owns 284 shares of the transportation company’s stock worth $46,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. purchased a new stake in Grupo Aeroportuario del Pacífico during the first quarter valued at $32,000. Finally, Eagle Ridge Investment Management increased its position in Grupo Aeroportuario del Pacífico by 0.9% during the second quarter. Eagle Ridge Investment Management now owns 70,794 shares of the transportation company’s stock valued at $11,028,000 after acquiring an additional 651 shares during the last quarter. 11.73% of the stock is owned by hedge funds and other 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.