Noteworthy Price Action: Will Macquarie Infrastructure Corp Run Out of Steam Soon?

Noteworthy Price Action: Will Macquarie Infrastructure Corp Run Out of Steam Soon?

The stock of Macquarie Infrastructure Corp (NYSE:MIC) hit a new 52-week high and has $113.41 target or 35.00% above today’s $84.01 share price. The 5 months bullish chart indicates low risk for the $6.94 billion company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $113.41 price target is reached, the company will be worth $2.43B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 454,719 shares traded hands or 0.26% up from the average. Macquarie Infrastructure Corp (NYSE:MIC) has risen 22.87% since March 30, 2016 and is uptrending. It has outperformed by 19.86% the S&P500.

Analysts await Macquarie Infrastructure Corp (NYSE:MIC) to report earnings on November, 7. They expect $0.40 earnings per share, up 207.69% or $0.27 from last year’s $0.13 per share. MIC’s profit will be $33.04 million for 52.51 P/E if the $0.40 EPS becomes a reality. After $0.24 actual earnings per share reported by Macquarie Infrastructure Corp for the previous quarter, Wall Street now forecasts 66.67% EPS growth.

Macquarie Infrastructure Corp (NYSE:MIC) Ratings Coverage

Out of 3 analysts covering MacQuarie Infrastructure (NYSE:MIC), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. MacQuarie Infrastructure has been the topic of 5 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, August 5. As per Thursday, March 24, the company rating was maintained by JP Morgan. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, November 4.

According to Zacks Investment Research, “Macquarie owns, operate and invests in a diversified group of infrastructure businesses, which provide basic, everyday services, in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin), a UK regulated water utility and in Macquarie Communications Infrastructure Group.”

Insitutional Activity: The institutional sentiment increased to 1.38 in Q2 2016. Its up 0.32, from 1.06 in 2016Q1. The ratio is positive, as 34 funds sold all Macquarie Infrastructure Corp shares owned while 82 reduced positions. 37 funds bought stakes while 123 increased positions. They now own 63.66 million shares or 6.29% less from 67.93 million shares in 2016Q1.
Royal National Bank & Trust Of Canada holds 0% or 44,251 shares in its portfolio. Pyrrho Cap Management Ltd Partnership holds 16,000 shares or 3.69% of its portfolio. Whittier Communication last reported 34,312 shares in the company. State Bank Of New York Mellon has invested 0.01% of its portfolio in Macquarie Infrastructure Corp (NYSE:MIC). Weiss Multi has 121,827 shares for 0.7% of their US portfolio. Barnett last reported 0.18% of its portfolio in the stock. Nuveen Asset Management Llc reported 361,841 shares or 0.16% of all its holdings. Moreover, Westwood Mgmt Il has 0.28% invested in Macquarie Infrastructure Corp (NYSE:MIC) for 20,000 shares. Cortina Asset Mgmt Limited Liability reported 82,844 shares or 0.28% of all its holdings. Wellington Management Group Inc Ltd Liability Partnership reported 46,363 shares or 0% of all its holdings. Envestnet Asset Management owns 3,155 shares or 0% of their US portfolio. Quantbot Technology Ltd Partnership reported 5,996 shares or 0.05% of all its holdings. Endowment Lp accumulated 0.06% or 3,600 shares. Dynamic Advsrs Solutions Lc reported 25,791 shares or 0.77% of all its holdings. Morgan Stanley has invested 0.08% of its portfolio in Macquarie Infrastructure Corp (NYSE:MIC).

More notable recent Macquarie Infrastructure Corp (NYSE:MIC) news were published by: Seekingalpha.com which released: “Is Macquarie Infrastructure Corp A Buy?” on March 24, 2016, also Businesswire.com with their article: “Macquarie Infrastructure Corporation Announces Additional Growth Investments” published on January 11, 2016, Businesswire.com published: “Macquarie Infrastructure Corporation Announces New Chief Financial Officer” on June 18, 2015. More interesting news about Macquarie Infrastructure Corp (NYSE:MIC) were released by: Fool.com and their article: “Macquarie Infrastructure Corporation Keeps Growing, but 2 Risks Cloud the …” published on November 09, 2015 as well as Fool.com‘s news article titled: “Macquarie Infrastructure Corporation Cares More About its Management Than its …” with publication date: October 01, 2015.

MIC Company Profile

Macquarie Infrastructure Corporation, incorporated on April 13, 2004, owns, operates and invests in a diversified group of infrastructure businesses providing basic services to clients in the United States. The Company’s businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, a gas processing and distribution business, Hawaii Gas, and entities comprising a Contracted Power and Energy segment. MIC is managed by a wholly-owned subsidiary of the Macquarie Group.

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