Macquarie Infrastructure (NYSE:MIC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday.

According to Zacks, “Over the past year, Macquarie’s shares have underperformed and look overvalued compared to its industry. Macquarie perceives that flaring up interest expenses and higher acquisition related costs might continue to dent its bottom line performances in the upcoming quarters. Also, ongoing challenges within the International-Matex Tank Terminals (IMTT) segment might weigh over near-term results. High outstanding debt remains another concern for the company. We believe that a highly leveraged balance sheet can inflate the company's financial obligations and hurt profitability.”

Other analysts have also issued reports about the company. Oppenheimer set a $60.00 price objective on Macquarie Infrastructure and gave the stock a “buy” rating in a report on Thursday, November 1st. ValuEngine upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $50.00.

Shares of NYSE:MIC traded up $0.07 during midday trading on Thursday, hitting $40.54. 384,406 shares of the stock were exchanged, compared to its average volume of 642,451. The company has a current ratio of 1.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94. Macquarie Infrastructure has a 52-week low of $33.71 and a 52-week high of $67.84. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 15.84 and a beta of 1.45.

Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings data on Wednesday, October 31st. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.27). Macquarie Infrastructure had a return on equity of 5.81% and a net margin of 25.26%. The firm had revenue of $473.28 million for the quarter, compared to analysts’ expectations of $476.20 million.

In related news, Director Martin Stanley bought 12,000 shares of the business’s stock in a transaction on Monday, November 5th. The shares were bought at an average cost of $39.04 per share, for a total transaction of $468,480.00. Following the completion of the acquisition, the director now directly owns 32,000 shares in the company, valued at $1,249,280. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Frost bought 25,160 shares of the business’s stock in a transaction on Monday, November 26th. The shares were bought at an average price of $39.73 per share, for a total transaction of $999,606.80. The disclosure for this purchase can be found here. 6.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MIC. Cerebellum GP LLC bought a new position in Macquarie Infrastructure during the fourth quarter valued at about $27,000. Girard Partners LTD. bought a new position in Macquarie Infrastructure during the third quarter valued at about $108,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Macquarie Infrastructure in the second quarter valued at about $122,000. Belpointe Asset Management LLC acquired a new stake in shares of Macquarie Infrastructure in the third quarter valued at about $162,000. Finally, Carroll Financial Associates Inc. grew its position in shares of Macquarie Infrastructure by 360.0% in the fourth quarter. Carroll Financial Associates Inc. now owns 4,600 shares of the conglomerate’s stock valued at $184,000 after purchasing an additional 3,600 shares during the last quarter. Institutional investors own 79.97% of the company’s stock.

Macquarie Infrastructure Company Profile

Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.

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