FTAI Infrastructure (NASDAQ:FIP) Stock Lifted to Sell by Wall Street Zen

Wall Street Zen upgraded shares of FTAI Infrastructure (NASDAQ:FIP) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

FIP has been the topic of several other research reports. JonesTrading restated a “buy” rating and issued a $8.75 price target on shares of FTAI Infrastructure in a research report on Monday, September 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FTAI Infrastructure in a research note on Wednesday, September 9th. Citigroup reaffirmed a “market outperform” rating on shares of FTAI Infrastructure in a research report on Tuesday, September 29th. BTIG Research lowered their target price on FTAI Infrastructure from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Finally, Jefferies Financial Group set a $10.00 target price on FTAI Infrastructure in a report on Tuesday, September 29th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, FTAI Infrastructure presently has a consensus rating of “Moderate Buy” and an average price target of $9.75.

FTAI Infrastructure Stock Performance

FTAI Infrastructure stock traded down $0.30 during midday trading on Friday, hitting $3.93. 1,531,384 shares of the company’s stock were exchanged, compared to its average volume of 1,830,368. FTAI Infrastructure has a 12-month low of $2.23 and a 12-month high of $6.69. The stock has a market cap of $464.45 million, a price-to-earnings ratio of -0.77 and a beta of 1.82. The firm’s 50 day simple moving average is $2.94 and its 200 day simple moving average is $4.40.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). The business had revenue of $218.97 million for the quarter, compared to the consensus estimate of $195.03 million.

FTAI Infrastructure Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Monday, November 23rd will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, November 23rd. FTAI Infrastructure’s payout ratio is -2.36%.

Insider Activity

In other news, CEO Kenneth J. Nicholson purchased 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was purchased at an average cost of $3.83 per share, with a total value of $1,532,000.00. Following the completion of the acquisition, the chief executive officer directly owned 2,575,539 shares of the company’s stock, valued at approximately $9,864,314.37. This trade represents a 18.39% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FTAI Infrastructure

A number of institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd purchased a new position in shares of FTAI Infrastructure during the 2nd quarter worth approximately $65,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of FTAI Infrastructure in the 2nd quarter valued at approximately $75,000. Connective Capital Management LLC purchased a new stake in shares of FTAI Infrastructure in the second quarter valued at approximately $167,000. Royal Bank of Canada boosted its stake in shares of FTAI Infrastructure by 47.2% in the first quarter. Royal Bank of Canada now owns 69,236 shares of the company’s stock valued at $341,000 after buying an additional 22,214 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of FTAI Infrastructure by 28.3% in the first quarter. Quantinno Capital Management LP now owns 86,840 shares of the company’s stock valued at $429,000 after buying an additional 19,155 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

FTAI Infrastructure Company Profile

FTAI Infrastructure (NASDAQ: FIP) is an infrastructure company focused on owning and operating assets in the transportation and energy sectors. Its businesses provide facilities and services that support the storage, handling and movement of commodities and other industrial products. The company’s portfolio includes Jefferson Terminal, a multimodal logistics and storage facility in Beaumont, Texas, and Repauno, a deepwater port and industrial site in Gibbstown, New Jersey. These facilities connect customers to transportation networks such as rail, road and waterways.