Grupo Aeroportuario del Sureste (NYSE:ASR) Rating Lowered to Strong Sell at Zacks Research

Grupo Aeroportuario del Sureste (NYSE:ASR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.

A number of other research firms have also recently commented on ASR. UBS Group upgraded Grupo Aeroportuario del Sureste from a “neutral” rating to a “buy” rating in a research report on Thursday, June 18th. Weiss Ratings lowered Grupo Aeroportuario del Sureste from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. cut shares of Grupo Aeroportuario del Sureste from a “neutral” rating to an “underweight” rating in a research note on Wednesday, July 22nd. Finally, HSBC raised shares of Grupo Aeroportuario del Sureste from a “hold” rating to a “buy” rating and set a $349.00 price target for the company in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Grupo Aeroportuario del Sureste has an average rating of “Hold” and a consensus price target of $324.50.

Grupo Aeroportuario del Sureste Price Performance

NYSE:ASR opened at $255.77 on Monday. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.54. Grupo Aeroportuario del Sureste has a 52 week low of $249.58 and a 52 week high of $381.52. The stock’s 50-day moving average price is $272.77 and its 200-day moving average price is $303.66. The stock has a market capitalization of $7.67 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.70 and a beta of 0.47.

Grupo Aeroportuario del Sureste (NYSE:ASR) last released its quarterly earnings results on Friday, July 24th. The transportation company reported $4.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.92 by ($0.54). The business had revenue of $547.46 million during the quarter, compared to analyst estimates of $517.35 million. Grupo Aeroportuario del Sureste had a return on equity of 21.32% and a net margin of 26.07%. As a group, equities analysts expect that Grupo Aeroportuario del Sureste will post 19.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. BayBridge Capital Group LLC acquired a new stake in Grupo Aeroportuario del Sureste during the 2nd quarter worth $315,000. Empowered Funds LLC purchased a new stake in shares of Grupo Aeroportuario del Sureste during the first quarter worth $7,687,000. Bank of America Corp DE raised its position in shares of Grupo Aeroportuario del Sureste by 112.1% in the first quarter. Bank of America Corp DE now owns 6,025 shares of the transportation company’s stock valued at $2,025,000 after buying an additional 3,184 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Grupo Aeroportuario del Sureste in the first quarter valued at about $220,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Grupo Aeroportuario del Sureste by 111.2% in the first quarter. Quantinno Capital Management LP now owns 6,427 shares of the transportation company’s stock worth $2,161,000 after buying an additional 3,384 shares in the last quarter. 10.57% of the stock is owned by institutional investors and hedge funds.

About Grupo Aeroportuario del Sureste

Grupo Aeroportuario del Sureste, SAB. de C.V. (NYSE: ASR) is a leading airport operator in Mexico specializing in the development, operation and management of airports under long-term concession agreements. The company’s core business activities include the operation of passenger and cargo terminals, the administration of retail and service concessions, the provision of parking and ground-support services, and the implementation of security and maintenance programs.

ASR holds concession rights for nine airports across southeastern Mexico, including premier tourism hubs such as Cancún, Cozumel and Huatulco, as well as regional facilities in Mérida, Oaxaca, Veracruz and Minatitlán.