Grupo Aeroportuario Del Pacifico (NYSE:PAC) Reaches New 52-Week Low – Here’s Why

Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC) shares hit a new 52-week low on Monday . The company traded as low as $199.87 and last traded at $200.1280, with a volume of 4987 shares. The stock had previously closed at $203.46.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PAC. Morgan Stanley raised shares of Grupo Aeroportuario Del Pacifico from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $210.00 to $225.00 in a report on Wednesday, August 5th. Citigroup upgraded shares of Grupo Aeroportuario Del Pacifico from a “neutral” rating to a “buy” rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grupo Aeroportuario Del Pacifico in a research note on Monday, August 31st. Zacks Research downgraded Grupo Aeroportuario Del Pacifico from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group decreased their price objective on Grupo Aeroportuario Del Pacifico from $312.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $250.00.

Grupo Aeroportuario Del Pacifico Stock Up 0.5%

The company has a market capitalization of $10.23 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.93. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average is $214.56 and its 200 day moving average is $234.15.

Grupo Aeroportuario Del Pacifico (NYSE:PAC) last announced its quarterly earnings results on Monday, July 13th. The transportation company reported $2.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.30). The firm had revenue of $645.23 million during the quarter, compared to the consensus estimate of $732.26 million. Grupo Aeroportuario Del Pacifico had a return on equity of 32.44% and a net margin of 25.36%. Research analysts predict that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 11.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PAC. NewEdge Advisors LLC grew its position in shares of Grupo Aeroportuario Del Pacifico by 8.9% in the 2nd quarter. NewEdge Advisors LLC now owns 1,331 shares of the transportation company’s stock worth $337,000 after buying an additional 109 shares during the last quarter. Militia Capital Management LLC bought a new position in shares of Grupo Aeroportuario Del Pacifico during the first quarter valued at approximately $839,000. Bank of America Corp DE lifted its stake in Grupo Aeroportuario Del Pacifico by 185.0% in the first quarter. Bank of America Corp DE now owns 83,866 shares of the transportation company’s stock worth $20,704,000 after acquiring an additional 54,439 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Grupo Aeroportuario Del Pacifico by 50.6% in the first quarter. EverSource Wealth Advisors LLC now owns 247 shares of the transportation company’s stock worth $61,000 after acquiring an additional 83 shares during the period. Finally, Empowered Funds LLC lifted its stake in Grupo Aeroportuario Del Pacifico by 148.1% in the first quarter. Empowered Funds LLC now owns 74,607 shares of the transportation company’s stock worth $18,418,000 after acquiring an additional 44,531 shares during the period. Hedge funds and other institutional investors own 11.73% of the company’s stock.

About Grupo Aeroportuario Del Pacifico

Grupo Aeroportuario del Pacífico, SAB. de C.V. (NYSE: PAC) is a Mexican airport infrastructure company that operates, maintains and develops airports serving commercial aviation, business travel and tourism markets. Its activities include airport management, passenger and airline services, terminal operations, airfield maintenance, security coordination and the development of commercial facilities such as parking areas, retail outlets, restaurants and other passenger amenities.

The company operates a portfolio of 12 airports in Mexico, including those serving Guadalajara, Tijuana, Puerto Vallarta, Los Cabos, Guanajuato, Hermosillo, La Paz, Mexicali, Aguascalientes, Morelia and Manzanillo.