Macquarie Infrastructure Company (NYSE:MIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $87.00 price target on the conglomerate’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.55% from the company’s previous close.
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. “
A number of other research analysts also recently issued reports on the company. SunTrust Banks, Inc. initiated coverage on Macquarie Infrastructure in a research report on Tuesday, March 21st. They issued a “buy” rating and a $92.00 price objective for the company. BidaskClub raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $90.25.
Shares of Macquarie Infrastructure (NYSE MIC) opened at 77.99 on Tuesday. The company has a market cap of $6.43 billion, a PE ratio of 38.92 and a beta of 0.93. The stock has a 50 day moving average of $77.92 and a 200-day moving average of $79.38. Macquarie Infrastructure has a 12 month low of $73.24 and a 12 month high of $85.45.
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A number of large investors have recently bought and sold shares of MIC. Commonwealth Financial Services LLC purchased a new stake in Macquarie Infrastructure during the first quarter valued at approximately $119,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Macquarie Infrastructure during the first quarter valued at approximately $121,000. Benjamin F. Edwards & Company Inc. raised its stake in Macquarie Infrastructure by 244.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,997 shares of the conglomerate’s stock valued at $161,000 after buying an additional 1,418 shares during the period. Daiwa Securities Group Inc. raised its stake in Macquarie Infrastructure by 412.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,050 shares of the conglomerate’s stock valued at $165,000 after buying an additional 1,650 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Macquarie Infrastructure by 3.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,078 shares of the conglomerate’s stock valued at $157,000 after buying an additional 73 shares during the period. Institutional investors own 86.74% 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.
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