Royal Bank of Canada upgraded shares of Macquarie Infrastructure (NYSE:MIC) from a sector perform rating to an outperform rating in a research note released on Tuesday, BenzingaRatingsTable reports. The firm currently has $51.00 price objective on the conglomerate’s stock, up from their prior price objective of $48.00.
A number of other research analysts also recently commented on the company. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded Hudson Technologies from a sell rating to a hold rating in a research report on Wednesday, May 29th. Finally, Barclays set a €45.00 ($52.33) target price on Zalando and gave the company a buy rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $48.33.
NYSE MIC opened at $41.84 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.95. The company has a market cap of $3.60 billion, a P/E ratio of 19.74 and a beta of 1.35. Macquarie Infrastructure has a one year low of $33.71 and a one year high of $47.74. The firm’s 50 day moving average price is $40.57.
Macquarie Infrastructure (NYSE:MIC) last posted its earnings results on Wednesday, May 1st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.18. The firm had revenue of $482.00 million during the quarter, compared to the consensus estimate of $488.00 million. Macquarie Infrastructure had a return on equity of 8.18% and a net margin of 6.93%. On average, equities analysts expect that Macquarie Infrastructure will post 4.8 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Budros Ruhlin & Roe Inc. raised its holdings in Macquarie Infrastructure by 2.5% during the 1st quarter. Budros Ruhlin & Roe Inc. now owns 10,858 shares of the conglomerate’s stock valued at $448,000 after buying an additional 268 shares during the period. 10 15 Associates Inc. raised its holdings in Macquarie Infrastructure by 2.2% during the 4th quarter. 10 15 Associates Inc. now owns 13,645 shares of the conglomerate’s stock valued at $499,000 after buying an additional 290 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in Macquarie Infrastructure by 63.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the conglomerate’s stock valued at $28,000 after buying an additional 299 shares during the period. Patten Group Inc. raised its holdings in Macquarie Infrastructure by 1.6% during the 1st quarter. Patten Group Inc. now owns 20,419 shares of the conglomerate’s stock valued at $842,000 after buying an additional 325 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Macquarie Infrastructure by 0.3% during the 1st quarter. California State Teachers Retirement System now owns 128,766 shares of the conglomerate’s stock valued at $5,308,000 after buying an additional 359 shares during the period. Institutional investors own 73.86% of the company’s stock.
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: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.
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