Macquarie Infrastructure Company (NYSE:MIC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
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. “
Other research analysts have also recently issued research reports about the company. SunTrust Banks, Inc. decreased their target price on Macquarie Infrastructure to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. BidaskClub upgraded Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. One equities 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. Macquarie Infrastructure currently has a consensus rating of “Hold” and an average price target of $83.75.
Macquarie Infrastructure (NYSE:MIC) opened at $64.39 on Friday. Macquarie Infrastructure has a 12-month low of $63.08 and a 12-month high of $83.66. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 0.93. The stock has a market capitalization of $5,440.00, a PE ratio of 30.46 and a beta of 0.87.
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Several large investors have recently added to or reduced their stakes in MIC. Janus Henderson Group PLC grew its holdings in shares of Macquarie Infrastructure by 4,796.4% during the second quarter. Janus Henderson Group PLC now owns 339,470 shares of the conglomerate’s stock worth $26,614,000 after purchasing an additional 332,537 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Macquarie Infrastructure by 48.4% during the third quarter. Westfield Capital Management Co. LP now owns 761,928 shares of the conglomerate’s stock worth $54,996,000 after purchasing an additional 248,395 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Macquarie Infrastructure by 4.5% during the third quarter. Macquarie Group Ltd. now owns 5,336,110 shares of the conglomerate’s stock worth $385,160,000 after purchasing an additional 228,693 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Macquarie Infrastructure during the third quarter worth about $16,401,000. Finally, Cibc World Markets Corp grew its holdings in shares of Macquarie Infrastructure by 119.0% during the second quarter. Cibc World Markets Corp now owns 398,500 shares of the conglomerate’s stock worth $31,242,000 after purchasing an additional 216,500 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.
About Macquarie Infrastructure
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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