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

Scotiabank lowered shares of Grupo Aeroportuario del Pacífico (NYSE:PAC) from a sector outperform rating to a sector perform rating in a research note published 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 have also commented on the stock. Bank of America raised shares of Grupo Aeroportuario del Pacífico from a neutral rating to a buy rating in a research note on Wednesday, August 28th. Citigroup raised shares of Grupo Aeroportuario del Pacífico to a strong-buy rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. reissued an underweight rating on shares of Grupo Aeroportuario del Pacífico in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group lifted their target price on shares of Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the stock a buy rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $195.00.

Grupo Aeroportuario del Pacífico Price Performance

PAC stock opened at $177.69 on Wednesday. The firm’s 50-day moving average price is $167.08 and its two-hundred day moving average price is $167.92. Grupo Aeroportuario del Pacífico has a 12-month low of $107.25 and a 12-month high of $197.31. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.68 and a beta of 1.47. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.56.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last announced its earnings results on Monday, July 22nd. The transportation company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.46). The company 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, equities analysts predict that Grupo Aeroportuario del Pacífico will post 9.88 earnings per share for the current year.

Grupo Aeroportuario del Pacífico Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a dividend of $3.8657 per share. This is an increase from Grupo Aeroportuario del Pacífico’s previous semi-annual dividend of $2.09. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, July 22nd. Grupo Aeroportuario del Pacífico’s payout ratio is currently 33.75%.

Institutional Investors Weigh In On Grupo Aeroportuario del Pacífico

Large investors have recently made changes to their positions in the company. UMB Bank n.a. bought a new stake in shares of Grupo Aeroportuario del Pacífico during the 1st quarter valued at about $32,000. Blue Trust Inc. grew its stake in shares of Grupo Aeroportuario del Pacífico by 163.0% during the 2nd quarter. Blue Trust Inc. now owns 284 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 176 shares during the period. Mather Group LLC. bought a new position in shares of Grupo Aeroportuario del Pacífico during the 1st quarter valued at approximately $119,000. SG Americas Securities LLC purchased a new stake in Grupo Aeroportuario del Pacífico in the 2nd quarter worth approximately $242,000. Finally, Sanders Morris Harris LLC bought a new stake in Grupo Aeroportuario del Pacífico during the 1st quarter worth approximately $261,000. 11.73% of the stock is currently owned by 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.