HSBC Upgrades Grupo Aeroportuario del Sureste (NYSE:ASR) to “Buy”

Grupo Aeroportuario del Sureste (NYSE:ASR) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $349.00 price target on the transportation company’s stock. HSBC’s price target would indicate a potential upside of 28.47% from the stock’s current price.

A number of other research analysts also recently issued reports on ASR. JPMorgan Chase & Co. downgraded Grupo Aeroportuario del Sureste from a “neutral” rating to an “underweight” rating in a research note on Wednesday, July 22nd. UBS Group upgraded Grupo Aeroportuario del Sureste from a “neutral” rating to a “buy” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Grupo Aeroportuario del Sureste in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $324.50.

Grupo Aeroportuario del Sureste Trading Up 0.2%

Shares of ASR stock opened at $271.67 on Thursday. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.71 and a beta of 0.46. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.39 and a current ratio of 3.39. The company has a 50-day simple moving average of $292.24 and a two-hundred day simple moving average of $320.74. Grupo Aeroportuario del Sureste has a 52-week low of $259.01 and a 52-week high of $381.52.

Grupo Aeroportuario del Sureste (NYSE:ASR) last issued its quarterly earnings results on Thursday, July 23rd. The transportation company reported $4.38 EPS for the quarter, missing analysts’ consensus estimates of $4.92 by ($0.54). The business had revenue of $547.46 million for the quarter, compared to analysts’ expectations of $517.35 million. Grupo Aeroportuario del Sureste had a net margin of 26.07% and a return on equity of 21.85%. Research analysts anticipate that Grupo Aeroportuario del Sureste will post 20.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Grupo Aeroportuario del Sureste

Several institutional investors have recently bought and sold shares of ASR. Empowered Funds LLC purchased a new position in Grupo Aeroportuario del Sureste in the first quarter valued at approximately $7,687,000. Bank of America Corp DE increased its position in Grupo Aeroportuario del Sureste by 112.1% in the first quarter. Bank of America Corp DE now owns 6,025 shares of the transportation company’s stock worth $2,025,000 after buying an additional 3,184 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Grupo Aeroportuario del Sureste in the first quarter valued at $220,000. Quantinno Capital Management LP raised its stake in shares of Grupo Aeroportuario del Sureste by 111.2% in the first quarter. Quantinno Capital Management LP now owns 6,427 shares of the transportation company’s stock valued at $2,161,000 after buying an additional 3,384 shares during the period. Finally, ABS Direct Equity Fund LLC lifted its position in shares of Grupo Aeroportuario del Sureste by 1.9% during the 1st quarter. ABS Direct Equity Fund LLC now owns 6,900 shares of the transportation company’s stock valued at $2,319,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 10.57% of the company’s stock.

Grupo Aeroportuario del Sureste Company Profile

Grupo Aeroportuario del Sureste, SAB. de C.V. (NYSE: ASR) is a leading airport operator in Mexico specializing in the development, operation and management of airports under long-term concession agreements. The company’s core business activities include the operation of passenger and cargo terminals, the administration of retail and service concessions, the provision of parking and ground-support services, and the implementation of security and maintenance programs.

ASR holds concession rights for nine airports across southeastern Mexico, including premier tourism hubs such as Cancún, Cozumel and Huatulco, as well as regional facilities in Mérida, Oaxaca, Veracruz and Minatitlán.