Wells Fargo analyst Jonathan Reeder upgraded Macquarie Infrastructure Company (MIC) to Buy today. The company’s shares closed last Monday at $22.28.
According to TipRanks.com, Reeder is a 3-star analyst with an average return of 1.5% and a 53.8% success rate. Reeder covers the Utilities sector, focusing on stocks such as American States Water Company, Hawaiian Electric Industries, and California Water Service.
Currently, the analyst consensus on Macquarie Infrastructure Company is a Moderate Buy with an average price target of $32.67, representing a 47.9% upside. In a report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $34.00 price target.
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Based on Macquarie Infrastructure Company’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $424 million and net profit of $14 million. In comparison, last year the company earned revenue of $437 million and had a net profit of $0.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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. owns and operates a diversified group of businesses providing basic services to customers in the U. S. It operates through the following business segments: Bulk Liquid Terminals Business, International-Matex Tank Terminals (IMTT), Atlantic Aviation and MIC Hawaii. The IMTT segment provides bulk liquid terminalling to third parties in the U.S. and Canada. The Atlantic Aviation segment provides airport services. The MIC Hawaii segment comprises energy services, production and distribution. The company was founded on April 13, 2004 and is headquartered in New York, NY.
