Analysts Set Macquarie Infrastructure Corp (MIC) PT at $51.00

Shares of Macquarie Infrastructure Corp (NYSE:MIC) have earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $51.00.

A number of equities research analysts have recently weighed in on the stock. ValuEngine raised shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Oppenheimer set a $60.00 target price on shares of Macquarie Infrastructure and gave the company a “buy” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research lowered shares of Macquarie Infrastructure from a “hold” rating to a “strong sell” rating in a research note on Thursday.

In other news, Director Martin Stanley bought 12,000 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $39.04 per share, for a total transaction of $468,480.00. Following the completion of the purchase, the director now owns 32,000 shares in the company, valued at approximately $1,249,280. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher Frost bought 25,160 shares of the company’s stock in a transaction dated 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. Insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MIC. PNC Financial Services Group Inc. lifted its stake in shares of Macquarie Infrastructure by 18.8% in the second quarter. PNC Financial Services Group Inc. now owns 24,407 shares of the conglomerate’s stock worth $1,029,000 after buying an additional 3,868 shares in the last quarter. FMR LLC raised its holdings in shares of Macquarie Infrastructure by 64.5% during the second quarter. FMR LLC now owns 1,609,896 shares of the conglomerate’s stock valued at $67,938,000 after purchasing an additional 631,459 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Macquarie Infrastructure during the second quarter valued at approximately $122,000. First Republic Investment Management Inc. purchased a new position in shares of Macquarie Infrastructure during the second quarter valued at approximately $3,756,000. Finally, Zacks Investment Management purchased a new position in shares of Macquarie Infrastructure during the second quarter valued at approximately $2,640,000. Hedge funds and other institutional investors own 79.97% of the company’s stock.

MIC stock opened at $40.54 on Friday. Macquarie Infrastructure has a 12-month low of $33.71 and a 12-month high of $67.84. The stock has a market capitalization 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 (NYSE:MIC) last released its quarterly earnings data on Wednesday, October 31st. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.27). Macquarie Infrastructure had a net margin of 25.26% and a return on equity of 5.81%. The firm had revenue of $473.28 million during the quarter, compared to analysts’ expectations of $476.20 million.

About Macquarie Infrastructure

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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Analyst Recommendations for Macquarie Infrastructure (NYSE:MIC)

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