Bank of America Corp DE Acquires 54,439 Shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. $PAC

Key Points

• Bank of America increased its Grupo Aeroportuario del Pacifico stake by 185% in the first quarter, acquiring 54,439 additional shares for a total of 83,866 shares valued at approximately $20.7 million.
• Analyst sentiment is mixed: Citigroup upgraded the stock to “buy,” while Zacks downgraded it to “strong sell.” The consensus rating is “hold,” with an average price target of $250.
• Grupo Aeroportuario del Pacifico reported quarterly EPS of $2.80, below the $3.10 consensus estimate, while revenue of $645.2 million also missed expectations. The stock opened at $205.06, near its 12-month low of $203.24.

Bank of America Corp DE boosted its holdings in Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Free Report) by 185.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,866 shares of the transportation company's stock after acquiring an additional 54,439 shares during the quarter. Bank of America Corp DE owned 0.17% of Grupo Aeroportuario Del Pacifico worth $20,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PAC. EverSource Wealth Advisors LLC grew its holdings in shares of Grupo Aeroportuario Del Pacifico by 65.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 164 shares of the transportation company's stock worth $43,000 after purchasing an additional 65 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Grupo Aeroportuario Del Pacifico during the third quarter valued at approximately $43,000. Kestra Advisory Services LLC purchased a new position in Grupo Aeroportuario Del Pacifico in the 4th quarter worth approximately $54,000. Van ECK Associates Corp grew its stake in Grupo Aeroportuario Del Pacifico by 20.6% in the 3rd quarter. Van ECK Associates Corp now owns 334 shares of the transportation company's stock worth $79,000 after buying an additional 57 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Grupo Aeroportuario Del Pacifico by 92.0% in the 4th quarter. Allworth Financial LP now owns 311 shares of the transportation company's stock worth $82,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 11.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. 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 restated a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a research report on Wednesday, June 3rd. The Goldman Sachs Group dropped their price target on Grupo Aeroportuario Del Pacifico from $312.00 to $275.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Morgan Stanley upgraded Grupo Aeroportuario Del Pacifico from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $210.00 to $225.00 in a report on Wednesday, August 5th. Finally, Zacks Research cut Grupo Aeroportuario Del Pacifico from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $250.00.

Grupo Aeroportuario Del Pacifico Stock Performance

Grupo Aeroportuario Del Pacifico stock opened at $205.06 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $10.36 billion, a PE ratio of 18.21, a P/E/G ratio of 1.47 and a beta of 0.94. The firm has a fifty day simple moving average of $230.52 and a two-hundred day simple moving average of $244.75. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a twelve month low of $203.24 and a twelve month high of $300.41.

Grupo Aeroportuario Del Pacifico (NYSE:PAC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $645.23 million for the quarter, compared to the consensus estimate of $732.26 million. Grupo Aeroportuario Del Pacifico had a net margin of 25.36% and a return on equity of 32.44%. Research analysts expect that Grupo Aeroportuario Del Pacifico, S.A. de C.V. will post 11.04 EPS for the current year.

Grupo Aeroportuario Del Pacifico Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V. NYSE: PAC, commonly known as GAP, is a leading airport operator in Mexico. Established in 1998 as part of the federal government’s airport privatization program, GAP holds long‐term concession agreements—typically 50 years—to manage, develop and operate airports under a public–private partnership model. Through these concessions, the company undertakes terminal expansions, runway maintenance and the modernization of navigation and security systems.

The company’s portfolio comprises 12 airports across Mexico’s Pacific and western regions, including major hubs such as Guadalajara, Tijuana, Los Cabos, Puerto Vallarta and Mazatlán, as well as regional facilities in Aguascalientes, Morelia and La Paz.

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