RBC Capital analyst T J Schultz downgraded Macquarie Infrastructure Company (MIC) to Hold today and set a price target of $41. The company’s shares closed yesterday at $43.21.
According to TipRanks.com, Schultz is a top 100 analyst with an average return of 17.7% and a 67.1% success rate. Schultz covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Sanchez Midstream Partners LP, and Andeavor Logistics LP.
Currently, the analyst consensus on Macquarie Infrastructure Company is a Moderate Buy with an average price target of $45.25.
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Based on Macquarie Infrastructure Company’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $21.7 million. In comparison, last year the company had a net profit of $349 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MIC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Macquarie Infrastructure Corp. engages in the ownership, operation and growth of portfolio of infrastructure and infrastructure-like businesses with the aim of producing an attractive risk. It operates through the following business segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii.
