Grupo Aeroportuario Del Pacifico, S.A. de C.V. (PAC) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. (NYSE:PAC) from a hold rating to a buy rating in a research report released on Wednesday, October 18th. The brokerage currently has $108.00 price objective on the transportation company’s stock.

According to Zacks, “Grupo Aeroportuario del Pacifico was constituted as part of the process of opening to the private investment the Mexican airport system. Currently the aeronautic infrastructure has become the base of every service of air transportation; constituting this a pole of development around which a series of activities of great economic importance is articulated: business, aeronautic services, commerce, business, etc. It administers, operates, maintains and develops twelve airports in the regions of the Pacific and Center of Mexico, in the cities of Guadalajara, Hermosillo, Puerto Vallarta, Aguascalientes, La Paz, Tijuana, Leon, among other. “

Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Grupo Aeroportuario Del Pacifico, S.A. de C.V. from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Scotiabank upgraded Grupo Aeroportuario Del Pacifico, S.A. de C.V. from a sector perform rating to an outperform rating and increased their price target for the company from $91.00 to $110.00 in a research note on Thursday, September 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $109.00.

Grupo Aeroportuario Del Pacifico, S.A. de C.V. (PAC) traded up $0.51 during mid-day trading on Wednesday, reaching $95.72. The company’s stock had a trading volume of 27,953 shares, compared to its average volume of 79,153. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.04 and a current ratio of 2.04. Grupo Aeroportuario Del Pacifico, S.A. de C.V. has a twelve month low of $72.52 and a twelve month high of $119.87. The stock has a market capitalization of $5,341.28, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 4.79 and a beta of 0.32.

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The company also recently declared a semiannual dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be paid a $1.491 dividend. This represents a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, November 3rd. Grupo Aeroportuario Del Pacifico, S.A. de C.V.’s dividend payout ratio is presently 86.02%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in Grupo Aeroportuario Del Pacifico, S.A. de C.V. by 47.5% in the second quarter. Russell Investments Group Ltd. now owns 277,916 shares of the transportation company’s stock valued at $31,202,000 after purchasing an additional 89,495 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. by 101.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 136,815 shares of the transportation company’s stock valued at $15,364,000 after buying an additional 68,800 shares during the period. Schroder Investment Management Group raised its holdings in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. by 81.8% in the 2nd quarter. Schroder Investment Management Group now owns 109,272 shares of the transportation company’s stock valued at $12,371,000 after buying an additional 49,150 shares during the period. Forsta AP Fonden raised its holdings in shares of Grupo Aeroportuario Del Pacifico, S.A. de C.V. by 777.8% in the 2nd quarter. Forsta AP Fonden now owns 47,400 shares of the transportation company’s stock valued at $5,323,000 after buying an additional 42,000 shares during the period. Finally, Bank of America Corp DE grew its stake in Grupo Aeroportuario Del Pacifico, S.A. de C.V. by 368.3% during the 1st quarter. Bank of America Corp DE now owns 40,605 shares of the transportation company’s stock worth $3,942,000 after purchasing an additional 31,935 shares in the last quarter. 6.18% of the stock is currently owned by institutional investors.

About Grupo Aeroportuario Del Pacifico, S.A. de C.V.

Grupo Aeroportuario del Pacifico, SAB. de C.V. is a holding company. The Company holds concessions to operate, maintain and develop approximately 10 international airports in the Pacific and Central regions of Mexico, and an international airport in Jamaica. The Company’s segments include Guadalajara, Tijuana, Puerto Vallarta, San Jose del Cabo, Montego Bay, Hermosillo, Bajio, Other Airports and Others Companies.

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