Macquarie Infrastructure Company (MIC) Downgraded to “Hold” at Zacks Investment Research

Macquarie Infrastructure Company (NYSE:MIC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

MIC has been the topic of a number of other research reports. BidaskClub upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Barclays PLC downgraded shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and cut their price target for the company from $89.00 to $83.00 in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $88.75.

Shares of Macquarie Infrastructure (MIC) opened at 76.31 on Wednesday. The company has a 50-day moving average price of $77.33 and a 200 day moving average price of $78.77. Macquarie Infrastructure has a one year low of $73.24 and a one year high of $85.45. The firm has a market capitalization of $6.29 billion, a P/E ratio of 38.08 and a beta of 0.93.

TRADEMARK VIOLATION NOTICE: This story was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://sportsperspectives.com/2017/07/26/macquarie-infrastructure-company-mic-downgraded-to-hold-at-zacks-investment-research.html.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Financial Services LLC purchased a new position in shares of Macquarie Infrastructure during the first quarter valued at approximately $119,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Macquarie Infrastructure during the first quarter valued at approximately $121,000. Mn Services Vermogensbeheer B.V. increased its position in shares of 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. Benjamin F. Edwards & Company Inc. increased its position in shares of 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. Finally, Daiwa Securities Group Inc. increased its position in shares of 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. Hedge funds and other institutional investors own 86.78% 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.

Receive News & Ratings for Macquarie Infrastructure Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macquarie Infrastructure Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply