Grupo Aeroportuario Del Pacifico (NYSE:PAC) Stock Price Down 4.7% on Analyst Downgrade

Key Points

• PAC fell 4.7% after Citigroup downgraded the stock from Buy to Neutral; trading volume was 81% below its daily average.
• Analyst sentiment is mixed: four analysts rate the shares Buy and five Hold, giving PAC an overall Hold rating and a consensus price target of $259.
• The company announced an annual dividend of $11.185 per share, payable November 16 to shareholders of record on November 9.

Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC - Get Free Report)'s stock price was down 4.7% on Monday after Citigroup downgraded the stock from a buy rating to a neutral rating. The stock traded as low as $236.13 and last traded at $236.9450. 23,868 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 125,739 shares. The stock had previously closed at $248.63.

PAC has been the subject of a number of other reports. Wall Street Zen upgraded Grupo Aeroportuario Del Pacifico from a "sell" rating to a "hold" rating in a report on Saturday, October 31st. Morgan Stanley upgraded Grupo Aeroportuario Del Pacifico from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $210.00 to $225.00 in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Grupo Aeroportuario Del Pacifico in a report on Monday, August 31st. HSBC raised Grupo Aeroportuario Del Pacifico from a "hold" rating to a "buy" rating and set a $277.00 target price on the stock in a research report on Monday, October 5th. Finally, Zacks Research upgraded shares of Grupo Aeroportuario Del Pacifico from a "strong sell" rating to a "hold" rating in a research note on Monday, September 21st. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Grupo Aeroportuario Del Pacifico presently has an average rating of "Hold" and a consensus price target of $259.00.

Institutional Investors Weigh In On Grupo Aeroportuario Del Pacifico

Several hedge funds have recently made changes to their positions in PAC. Lazard Asset Management LLC boosted its holdings in Grupo Aeroportuario Del Pacifico by 1.6% in the 1st quarter. Lazard Asset Management LLC now owns 1,172,634 shares of the transportation company's stock valued at $289,488,000 after purchasing an additional 18,139 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Grupo Aeroportuario Del Pacifico by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 156,890 shares of the transportation company's stock worth $38,699,000 after buying an additional 2,090 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Grupo Aeroportuario Del Pacifico by 16.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 101,200 shares of the transportation company's stock worth $20,787,000 after buying an additional 14,256 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Grupo Aeroportuario Del Pacifico by 185.0% during the 1st quarter. Bank of America Corp DE now owns 83,866 shares of the transportation company's stock worth $20,704,000 after buying an additional 54,439 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Grupo Aeroportuario Del Pacifico by 148.1% in the 1st quarter. Empowered Funds LLC now owns 74,607 shares of the transportation company's stock valued at $18,418,000 after buying an additional 44,531 shares during the period. Institutional investors and hedge funds own 11.73% of the company's stock.

Grupo Aeroportuario Del Pacifico Stock Down 4.7%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.75 and a beta of 0.94. The firm has a fifty day moving average price of $211.99 and a 200 day moving average price of $236.13.

Grupo Aeroportuario Del Pacifico Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 9th will be given a dividend of $11.1850 per share. The ex-dividend date is Monday, November 9th. This represents a yield of 473.0%.

About Grupo Aeroportuario Del Pacifico

Grupo Aeroportuario del Pacífico (GAP) is a Mexican airport operator that develops, maintains and manages airport infrastructure under government concessions. Its services include passenger and aircraft operations, as well as commercial offerings such as retail, food and beverage, parking and car rental.

GAP operates 12 airports in Mexico, including those serving Guadalajara, Tijuana, Puerto Vallarta and Los Cabos. It also operates Sangster International Airport in Montego Bay, Jamaica, giving the company a presence in both Mexico and the Caribbean.

Formed as part of Mexico's airport privatization process, GAP is publicly traded in Mexico and the United States.

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