Macquarie Infrastructure Company (MIC) Cut to Hold at Barclays PLC

Macquarie Infrastructure Company (NYSE:MIC) was downgraded by research analysts at Barclays PLC from an “overweight” rating to a “hold” rating in a research note issued to investors on Tuesday, July 18th. They currently have a $83.00 price target on the conglomerate’s stock, down from their previous price target of $89.00. Barclays PLC’s price target points to a potential upside of 9.01% from the stock’s previous close.

A number of other research analysts have also commented on MIC. BidaskClub lowered Macquarie Infrastructure from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Tuesday, July 18th. Finally, SunTrust Banks, Inc. began coverage on Macquarie Infrastructure in a report on Tuesday, March 21st. They set a “buy” rating and a $92.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $88.75.

Shares of Macquarie Infrastructure (MIC) opened at 76.14 on Tuesday. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 36.61 and a beta of 0.92. The company has a 50 day moving average of $77.16 and a 200-day moving average of $78.50. Macquarie Infrastructure has a 52 week low of $73.24 and a 52 week high of $85.45.

Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.26. Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%. The business had revenue of $438.99 million for the quarter, compared to analyst estimates of $416.50 million. On average, equities research analysts expect that Macquarie Infrastructure will post $2.07 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Financial Services LLC purchased a new position in shares of Macquarie Infrastructure during the first quarter worth approximately $119,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Macquarie Infrastructure during the first quarter worth approximately $121,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Macquarie Infrastructure by 244.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,997 shares of the conglomerate’s stock worth $161,000 after buying an additional 1,418 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Macquarie Infrastructure by 412.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,050 shares of the conglomerate’s stock worth $165,000 after buying an additional 1,650 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Macquarie Infrastructure by 3.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,078 shares of the conglomerate’s stock worth $157,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 86.10% of the company’s stock.

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.