Macquarie Infrastructure Company (NYSE:MIC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The firm currently has a $84.00 price target on the conglomerate’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.32% from the stock’s previous close.

According to Zacks, “Macquarie owns, operate and invests in a diversified group of infrastructure businesses, which provide basic, everyday services, in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin), a UK regulated water utility and in Macquarie Communications Infrastructure Group. “

MIC has been the subject of a number of other research reports. BidaskClub downgraded Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $88.00.

Macquarie Infrastructure (NYSE MIC) traded down 0.45% during midday trading on Wednesday, reaching $72.51. 289,949 shares of the company traded hands. Macquarie Infrastructure has a one year low of $71.23 and a one year high of $85.45. The firm has a 50-day moving average price of $73.10 and a 200-day moving average price of $76.86. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 34.86 and a beta of 0.88.

Macquarie Infrastructure (NYSE:MIC) last issued its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.26). The company had revenue of $438.99 million during the quarter, compared to the consensus estimate of $416.50 million. Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%. Equities analysts predict that Macquarie Infrastructure will post $1.89 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently modified their holdings of the company. Ffcm LLC boosted its position in shares of Macquarie Infrastructure by 122.1% during the 2nd quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock valued at $159,000 after acquiring an additional 1,105 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Macquarie Infrastructure during the 2nd quarter valued at about $165,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Macquarie Infrastructure by 13.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the conglomerate’s stock valued at $178,000 after acquiring an additional 271 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Macquarie Infrastructure during the 1st quarter valued at about $198,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Macquarie Infrastructure during the 2nd quarter valued at about $206,000. Hedge funds and other institutional investors own 80.53% of the company’s stock.

About Macquarie Infrastructure

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.

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