Grupo Aeroportuario del Pacífico (NYSE:PAC) Sees Strong Trading Volume

Shares of Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) saw strong trading volume on Tuesday . 34,243 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 53,475 shares.The stock last traded at $177.97 and had previously closed at $177.43.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a research note on Thursday, September 5th. Citigroup raised shares of Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a research note on Wednesday, August 28th. Bank of America upgraded shares of Grupo Aeroportuario del Pacífico from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group increased their price target on Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Grupo Aeroportuario del Pacífico has a consensus rating of “Moderate Buy” and an average target price of $205.00.

Grupo Aeroportuario del Pacífico Stock Performance

The firm has a market capitalization of $9.27 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.58 and a beta of 1.47. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.13 and a current ratio of 1.13. The business’s fifty day simple moving average is $163.79 and its 200-day simple moving average is $165.78.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last posted its earnings results 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). The company had revenue of $421.54 million for the quarter. Grupo Aeroportuario del Pacífico had a net margin of 29.26% and a return on equity of 47.50%. As a group, equities research analysts expect that Grupo Aeroportuario del Pacífico, S.A.B. de C.V. will post 9.88 EPS for the current year.

Grupo Aeroportuario del Pacífico Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $3.8657 per share. This is a positive change from Grupo Aeroportuario del Pacífico’s previous semi-annual dividend of $2.09. The ex-dividend date was Monday, July 22nd. This represents a dividend yield of 4.7%. Grupo Aeroportuario del Pacífico’s dividend payout ratio (DPR) is presently 33.84%.

Institutional Investors Weigh In On Grupo Aeroportuario del Pacífico

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

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.