Grupo Aeroportuario del Pacífico (NYSE:PAC) Lifted to Buy at Bank of America

Grupo Aeroportuario del Pacífico (NYSE:PAC) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Wednesday, Briefing.com reports.

Grupo Aeroportuario del Pacífico Stock Performance

Shares of NYSE:PAC opened at $162.00 on Wednesday. The stock has a market capitalization of $8.19 billion, a P/E ratio of 14.46, a P/E/G ratio of 2.63 and a beta of 1.46. 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 has a 1-year low of $107.25 and a 1-year high of $197.31. The business has a 50-day moving average price of $159.52 and a two-hundred day moving average price of $163.84.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last announced its quarterly earnings data on Monday, July 22nd. The transportation company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.46). Grupo Aeroportuario del Pacífico had a net margin of 29.26% and a return on equity of 47.50%. The business had revenue of $421.54 million during the quarter. Equities analysts predict that Grupo Aeroportuario del Pacífico will post 9.81 earnings per share for the current year.

Hedge Funds Weigh In On Grupo Aeroportuario del Pacífico

Several institutional investors have recently modified their holdings of PAC. Creative Planning acquired a new stake in Grupo Aeroportuario del Pacífico in the second quarter worth $348,000. Mackenzie Financial Corp increased its position in shares of Grupo Aeroportuario del Pacífico by 5.6% in the 2nd quarter. Mackenzie Financial Corp now owns 70,614 shares of the transportation company’s stock valued at $11,000,000 after buying an additional 3,754 shares in the last quarter. Marshall Wace LLP raised its stake in Grupo Aeroportuario del Pacífico by 9.7% during the 2nd quarter. Marshall Wace LLP now owns 15,787 shares of the transportation company’s stock worth $2,459,000 after buying an additional 1,391 shares during the period. 1832 Asset Management L.P. bought a new position in Grupo Aeroportuario del Pacífico during the second quarter worth about $13,976,000. Finally, Sei Investments Co. grew its stake in Grupo Aeroportuario del Pacífico by 7.4% in the second quarter. Sei Investments Co. now owns 13,373 shares of the transportation company’s stock valued at $2,083,000 after acquiring an additional 927 shares during the period. 11.73% of the stock is currently owned by institutional investors and hedge funds.

About Grupo Aeroportuario del Pacífico

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.