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

Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC)’s share price dropped 4.7% during mid-day trading 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 were traded during trading, a decline of 81% from the average session volume of 125,739 shares. The stock had previously closed at $248.63.

PAC has been the subject of several other research reports. HSBC raised Grupo Aeroportuario Del Pacifico from a “hold” rating to a “buy” rating and set a $277.00 price target for the company in a research report on Monday, October 5th. Weiss Ratings restated a “hold (c)” rating on shares of Grupo Aeroportuario Del Pacifico in a research report on Monday, August 31st. Wall Street Zen raised Grupo Aeroportuario Del Pacifico from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Zacks Research upgraded Grupo Aeroportuario Del Pacifico from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. Finally, The Goldman Sachs Group dropped their price objective on Grupo Aeroportuario Del Pacifico from $312.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $259.00.

Institutional Trading of Grupo Aeroportuario Del Pacifico

A number of hedge funds have recently bought and sold shares of PAC. Russell Investments Group Ltd. grew its stake in Grupo Aeroportuario Del Pacifico by 16.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 101,200 shares of the transportation company’s stock worth $20,787,000 after acquiring an additional 14,256 shares during the period. Eurizon Capital SGR S.p.A. lifted its stake in shares of Grupo Aeroportuario Del Pacifico by 0.6% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 13,422 shares of the transportation company’s stock worth $2,829,000 after purchasing an additional 74 shares during the period. Gen Wealth Partners Inc purchased a new position in shares of Grupo Aeroportuario Del Pacifico during the 3rd quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Grupo Aeroportuario Del Pacifico during the 3rd quarter worth $126,000. Finally, Sage Investment Counsel LLC boosted its holdings in shares of Grupo Aeroportuario Del Pacifico by 3.6% during the third quarter. Sage Investment Counsel LLC now owns 2,840 shares of the transportation company’s stock worth $583,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 11.73% of the company’s stock.

Grupo Aeroportuario Del Pacifico Stock Down 4.7%

The firm has a market cap 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 company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.83. 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 Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Monday, November 16th. Investors 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%.

Grupo Aeroportuario Del Pacifico Company Profile

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.