Shares of Macquarie Infrastructure Corp (NYSE:MIC) have received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $51.00.
Several research analysts recently issued reports on MIC shares. Oppenheimer set a $60.00 price target on shares of Macquarie Infrastructure and gave the stock a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday. Finally, ValuEngine upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.
In other news, Director Martin Stanley purchased 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average cost of $39.04 per share, for a total transaction of $468,480.00. Following the transaction, the director now directly owns 32,000 shares of the company’s stock, valued at approximately $1,249,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Frost purchased 25,160 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The stock was purchased at an average price of $39.73 per share, for a total transaction of $999,606.80. The disclosure for this purchase can be found here. Company insiders own 6.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Cerebellum GP LLC acquired a new stake in shares of Macquarie Infrastructure in the 4th quarter valued at approximately $27,000. United Services Automobile Association increased its stake in Macquarie Infrastructure by 10.2% during the 2nd quarter. United Services Automobile Association now owns 12,971 shares of the conglomerate’s stock worth $547,000 after purchasing an additional 1,199 shares in the last quarter. Kovack Advisors Inc. increased its stake in Macquarie Infrastructure by 9.0% during the 3rd quarter. Kovack Advisors Inc. now owns 15,555 shares of the conglomerate’s stock worth $718,000 after purchasing an additional 1,290 shares in the last quarter. Patten & Patten Inc. TN increased its stake in Macquarie Infrastructure by 1.0% during the 3rd quarter. Patten & Patten Inc. TN now owns 147,431 shares of the conglomerate’s stock worth $6,801,000 after purchasing an additional 1,483 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in Macquarie Infrastructure by 56.2% during the 3rd quarter. IFP Advisors Inc now owns 5,377 shares of the conglomerate’s stock worth $248,000 after purchasing an additional 1,934 shares in the last quarter. Institutional investors and hedge funds own 79.97% of the company’s stock.
Shares of MIC traded up $0.07 during trading hours on Friday, hitting $40.54. The stock had a trading volume of 9,448 shares, compared to its average volume of 818,388. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 15.84 and a beta of 1.45. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.39 and a current ratio of 1.42. Macquarie Infrastructure has a 52 week low of $33.71 and a 52 week high of $67.84.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings results on Wednesday, October 31st. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.27). The company had revenue of $473.28 million for the quarter, compared to analyst estimates of $476.20 million. Macquarie Infrastructure had a return on equity of 5.81% and a net margin of 25.26%.
Macquarie Infrastructure Company Profile
Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.
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