Macquarie Infrastructure Company (MIC) Given New $75.00 Price Target at SunTrust Banks, Inc.
Macquarie Infrastructure Company (NYSE:MIC) had its target price dropped by analysts at SunTrust Banks, Inc. to $75.00 in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the conglomerate’s stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 15.60% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. BidaskClub upgraded Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Barclays PLC downgraded Macquarie Infrastructure from an “overweight” rating to a “hold” rating and dropped their price target for the company from $89.00 to $83.00 in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $83.75.
Macquarie Infrastructure (NYSE:MIC) traded down $0.71 during trading on Wednesday, hitting $64.88. The company’s stock had a trading volume of 747,400 shares, compared to its average volume of 586,476. The company has a market cap of $5,546.98, a PE ratio of 30.80 and a beta of 0.87. Macquarie Infrastructure has a 52-week low of $64.84 and a 52-week high of $83.66. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 0.93.
ILLEGAL ACTIVITY WARNING: “Macquarie Infrastructure Company (MIC) Given New $75.00 Price Target at SunTrust Banks, Inc.” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/macquarie-infrastructure-company-mic-given-new-75-00-price-target-at-suntrust-banks-inc/1705649.html.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIC. Verition Fund Management LLC purchased a new position in shares of Macquarie Infrastructure in the 2nd quarter valued at $404,000. Principal Financial Group Inc. increased its stake in Macquarie Infrastructure by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 2,468,616 shares of the conglomerate’s stock worth $193,540,000 after buying an additional 14,255 shares in the last quarter. Swiss National Bank increased its stake in Macquarie Infrastructure by 3.2% during the 2nd quarter. Swiss National Bank now owns 284,300 shares of the conglomerate’s stock worth $22,289,000 after buying an additional 8,800 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Macquarie Infrastructure by 25.3% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 26,446 shares of the conglomerate’s stock worth $2,073,000 after buying an additional 5,332 shares in the last quarter. Finally, Overbrook Management Corp boosted its holdings in shares of Macquarie Infrastructure by 3.6% during the 2nd quarter. Overbrook Management Corp now owns 598,148 shares of the conglomerate’s stock worth $46,895,000 after purchasing an additional 20,688 shares during the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.
Macquarie Infrastructure Company Profile
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
Receive News & Ratings for Macquarie Infrastructure Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macquarie Infrastructure Company and related companies with Analyst Ratings Network's FREE daily email newsletter.