Grupo Aeroportuario del Pacífico (NYSE:PAC) Sees Unusually-High Trading Volume – Time to Buy?

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) shares saw unusually-strong trading volume on Tuesday . Approximately 130,485 shares were traded during trading, an increase of 122% from the previous session’s volume of 58,651 shares.The stock last traded at $173.20 and had previously closed at $174.40.

Analysts Set New Price Targets

Several brokerages recently issued reports on PAC. The Goldman Sachs Group raised their target price on shares of Grupo Aeroportuario del Pacífico from $177.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Bank of America upgraded Grupo Aeroportuario del Pacífico from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 28th. Citigroup upgraded Grupo Aeroportuario del Pacífico to a “strong-buy” rating in a research report on Wednesday, August 28th. Scotiabank lowered shares of Grupo Aeroportuario del Pacífico from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $224.00 to $185.00 in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Grupo Aeroportuario del Pacífico in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Grupo Aeroportuario del Pacífico has an average rating of “Moderate Buy” and a consensus price target of $195.00.

Grupo Aeroportuario del Pacífico Stock Down 1.6 %

The stock has a market capitalization of $8.67 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.59 and a beta of 1.46. The firm’s 50 day simple moving average is $173.03 and its two-hundred day simple moving average is $170.15.

Grupo Aeroportuario del Pacífico (NYSE:PAC) last issued its earnings results on Monday, July 22nd. The transportation company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.46). The firm had revenue of $421.54 million during the quarter. Grupo Aeroportuario del Pacífico had a return on equity of 47.50% and a net margin of 29.26%. As a group, equities research analysts expect that Grupo Aeroportuario del Pacífico, S.A.B. de C.V. will post 9.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAC. Lazard Asset Management LLC grew its holdings in Grupo Aeroportuario del Pacífico by 141.5% during the first quarter. Lazard Asset Management LLC now owns 481,256 shares of the transportation company’s stock worth $78,526,000 after buying an additional 281,966 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Grupo Aeroportuario del Pacífico during the second quarter valued at about $13,976,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Grupo Aeroportuario del Pacífico during the first quarter worth about $2,676,000. Quadrature Capital Ltd bought a new stake in Grupo Aeroportuario del Pacífico in the 1st quarter worth about $1,485,000. Finally, BNP Paribas Financial Markets increased its stake in Grupo Aeroportuario del Pacífico by 70.8% in the 1st quarter. BNP Paribas Financial Markets now owns 14,706 shares of the transportation company’s stock valued at $2,400,000 after buying an additional 6,097 shares during the last quarter. 11.73% of the stock is currently owned by institutional investors and hedge funds.

Grupo Aeroportuario del Pacífico Company Profile

Grupo Aeroportuario del Pacífico, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and manage airports in Mexico and Jamaica. The company operates twelve international airports in Guadalajara and Tijuana areas, Mexico; and two international airports in Montego Bay, Jamaica.