Grupo Aeroportuario del Pacífico (NYSE:PAC) Sees Strong Trading Volume – Still a Buy?

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) shares saw an uptick in trading volume on Tuesday . 130,485 shares changed hands during mid-day trading, an increase of 122% from the previous session’s volume of 58,651 shares.The stock last traded at $173.20 and had previously closed at $174.40.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Bank of America upgraded shares of Grupo Aeroportuario del Pacífico from a “neutral” rating to a “buy” rating in a report on Wednesday, August 28th. Scotiabank lowered shares of Grupo Aeroportuario del Pacífico from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $224.00 to $185.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a report on Thursday, September 5th. Finally, Citigroup raised Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.00.

Grupo Aeroportuario del Pacífico Stock Performance

The firm’s fifty day simple moving average is $172.54 and its 200 day simple moving average is $170.12. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.61 and a beta of 1.46.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last issued its quarterly earnings data on Monday, July 22nd. The transportation company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.46). The company had revenue of $421.54 million for the quarter. Grupo Aeroportuario del Pacífico had a return on equity of 47.50% and a net margin of 29.26%. Analysts forecast that Grupo Aeroportuario del Pacífico, S.A.B. de C.V. will post 9.88 earnings per share for the current year.

Institutional Trading of Grupo Aeroportuario del Pacífico

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Grupo Aeroportuario del Pacífico by 70.8% during the first quarter. BNP Paribas Financial Markets now owns 14,706 shares of the transportation company’s stock worth $2,400,000 after buying an additional 6,097 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Grupo Aeroportuario del Pacífico by 141.5% in the first quarter. Lazard Asset Management LLC now owns 481,256 shares of the transportation company’s stock valued at $78,526,000 after purchasing an additional 281,966 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Grupo Aeroportuario del Pacífico in the first quarter valued at approximately $2,676,000. Marshall Financial Group LLC bought a new stake in shares of Grupo Aeroportuario del Pacífico in the second quarter worth $867,000. Finally, 1832 Asset Management L.P. acquired a new position in Grupo Aeroportuario del Pacífico during the second quarter worth $13,976,000. Institutional investors and hedge funds own 11.73% of the company’s stock.

Grupo Aeroportuario del Pacífico Company Profile

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.