FTAI Infrastructure (NASDAQ:FIP) Given Buy Rating at BTIG Research

FTAI Infrastructure (NASDAQ:FIP)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a note issued to investors on Monday, Benzinga reports. They presently have a $9.00 price target on the stock. BTIG Research’s price target indicates a potential upside of 211.96% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Wall Street Zen cut FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Monday, July 20th. JonesTrading reissued a “buy” rating and set a $8.75 price target on shares of FTAI Infrastructure in a report on Monday. Compass Point set a $12.00 price objective on FTAI Infrastructure in a research report on Tuesday, June 30th. Citizens Jmp started coverage on FTAI Infrastructure in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $10.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of FTAI Infrastructure in a research report on Wednesday, September 9th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, FTAI Infrastructure currently has an average rating of “Moderate Buy” and an average target price of $9.94.

FTAI Infrastructure Trading Down 7.8%

FIP stock traded down $0.24 during mid-day trading on Monday, hitting $2.88. The stock had a trading volume of 428,594 shares, compared to its average volume of 1,108,021. The firm has a fifty day simple moving average of $3.69 and a 200 day simple moving average of $4.47. The firm has a market capitalization of $340.95 million, a P/E ratio of -0.56 and a beta of 1.79. FTAI Infrastructure has a 52 week low of $2.77 and a 52 week high of $6.69.

FTAI Infrastructure (NASDAQ:FIP) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.81). The firm had revenue of $186.77 million for the quarter, compared to the consensus estimate of $186.08 million. FTAI Infrastructure had a negative return on equity of 147.01% and a negative net margin of 74.10%.

Institutional Investors Weigh In On FTAI Infrastructure

Several hedge funds have recently modified their holdings of FIP. Wellington Management Group LLP grew its position in FTAI Infrastructure by 10.3% during the 2nd quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company’s stock worth $62,595,000 after acquiring an additional 1,259,468 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in FTAI Infrastructure in the second quarter valued at about $8,591,000. Pingora Partners LLC boosted its stake in shares of FTAI Infrastructure by 3.1% during the fourth quarter. Pingora Partners LLC now owns 1,770,103 shares of the company’s stock valued at $8,160,000 after purchasing an additional 53,930 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of FTAI Infrastructure by 38.0% during the first quarter. Lazard Asset Management LLC now owns 467,149 shares of the company’s stock valued at $2,308,000 after purchasing an additional 128,598 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of FTAI Infrastructure by 43.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 433,930 shares of the company’s stock worth $2,144,000 after purchasing an additional 131,521 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

FTAI Infrastructure Company Profile

FTAI Infrastructure Inc owns and operates critical infrastructure assets that support the transportation and energy sectors. The company focuses on businesses that provide essential services to industrial, commercial and governmental customers, including rail transportation, port and terminal operations, and power generation.

Its portfolio includes Transtar, a provider of industrial rail transportation and related services, as well as energy and logistics infrastructure such as the Jefferson Energy Companies terminal in Georgia, the Repauno Port and Rail Terminal in New Jersey, and the Long Ridge Energy Terminal and power-generation complex in Ohio.