HSBC Upgrades Grupo Aeroportuario Del Pacifico (NYSE:PAC) to Buy

Key Points

• HSBC upgraded Grupo Aeroportuario del Pacífico to “buy” from “hold” and set a $277 price target, implying 37.76% upside from the $201.08 share price.
• Analyst sentiment is generally positive, with five buy ratings and four holds producing a consensus “Moderate Buy” rating and an average target of $259.
• The company’s latest quarterly results fell short of expectations: earnings were $2.80 per share versus $3.10 expected, while revenue reached $645.23 million compared with a $732.26 million estimate.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) was upgraded by analysts at HSBC from a "hold" rating to a "buy" rating in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a $277.00 price objective on the transportation company's stock. HSBC's price objective points to a potential upside of 37.76% from the company's current price.

Other analysts also recently issued reports about the company. Wall Street Zen raised Grupo Aeroportuario Del Pacifico from a "sell" rating to a "hold" rating in a report on Sunday, September 27th. Citigroup raised Grupo Aeroportuario Del Pacifico from a "neutral" rating to a "buy" rating in a research report on Monday, July 20th. Morgan Stanley upgraded Grupo Aeroportuario Del Pacifico from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $210.00 to $225.00 in a research note on Wednesday, August 5th. The Goldman Sachs Group lowered their price target on Grupo Aeroportuario Del Pacifico from $312.00 to $275.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a research note on Monday, August 31st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Grupo Aeroportuario Del Pacifico currently has an average rating of "Moderate Buy" and an average target price of $259.00.

Grupo Aeroportuario Del Pacifico Price Performance

Shares of PAC opened at $201.08 on Monday. Grupo Aeroportuario Del Pacifico has a twelve month low of $193.11 and a twelve month high of $300.41. The firm's fifty day simple moving average is $209.75 and its 200-day simple moving average is $230.86. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.42 and a beta of 0.97. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last issued its earnings results on Monday, July 13th. The transportation company reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $3.10 by ($0.30). The firm had revenue of $645.23 million for the quarter, compared to analyst estimates of $732.26 million. Grupo Aeroportuario Del Pacifico had a return on equity of 32.44% and a net margin of 25.36%. Equities analysts forecast that Grupo Aeroportuario Del Pacifico will post 11.04 EPS for the current fiscal year.

Institutional Trading of Grupo Aeroportuario Del Pacifico

Several institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Grupo Aeroportuario Del Pacifico by 50.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 247 shares of the transportation company's stock worth $61,000 after buying an additional 83 shares during the last quarter. Parallel Advisors LLC increased its position in Grupo Aeroportuario Del Pacifico by 29.8% during the first quarter. Parallel Advisors LLC now owns 440 shares of the transportation company's stock worth $109,000 after buying an additional 101 shares during the period. Alamar Capital Management LLC purchased a new stake in Grupo Aeroportuario Del Pacifico in the first quarter valued at approximately $222,000. Elevation Point Wealth Partners LLC purchased a new stake in Grupo Aeroportuario Del Pacifico in the first quarter valued at approximately $251,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Grupo Aeroportuario Del Pacifico by 27.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the transportation company's stock valued at $266,000 after acquiring an additional 234 shares during the period. 11.73% of the stock is owned by hedge funds and other institutional investors.

Grupo Aeroportuario Del Pacifico Company Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V. NYSE: PAC, commonly known as GAP, is a Mexican airport operator that develops, manages and maintains airports under long-term concessions. Its activities include passenger and aircraft services, terminal operations, parking, commercial areas, retail, food and beverage, advertising, car rentals and other airport-related services.

GAP operates a portfolio of airports in western and central Mexico, including Guadalajara, Tijuana, Puerto Vallarta, Los Cabos, León, Hermosillo, Mexicali, La Paz, Aguascalientes, Morelia, Manzanillo and Los Mochis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.