FTAI Infrastructure (NASDAQ:FIP) Stock Keeps Buy Rating at JonesTrading

FTAI Infrastructure (NASDAQ:FIP)‘s stock had its “buy” rating reaffirmed by stock analysts at JonesTrading in a note issued to investors on Monday, Benzinga reports. They presently have a $8.75 price target on the stock. JonesTrading’s target price would indicate a potential upside of 224.68% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Compass Point set a $12.00 price objective on shares of FTAI Infrastructure in a research note on Tuesday, June 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of FTAI Infrastructure in a research note on Wednesday, September 9th. Citizens Jmp started coverage on shares of FTAI Infrastructure in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $10.00 target price for the company. Finally, Wall Street Zen cut shares of FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, FTAI Infrastructure has a consensus rating of “Moderate Buy” and a consensus price target of $9.95.

FTAI Infrastructure Stock Performance

NASDAQ:FIP traded up $0.10 during mid-day trading on Monday, reaching $2.70. The stock had a trading volume of 512,771 shares, compared to its average volume of 1,117,400. The firm has a market capitalization of $318.50 million, a price-to-earnings ratio of -0.52 and a beta of 1.84. FTAI Infrastructure has a twelve month low of $2.59 and a twelve month high of $6.69. The business has a 50 day simple moving average of $3.57 and a 200 day simple moving average of $4.40.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.81). The company had revenue of $186.77 million for the quarter, compared to analysts’ expectations of $186.08 million.

Institutional Trading of FTAI Infrastructure

Institutional investors have recently made changes to their positions in the stock. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in FTAI Infrastructure in the 2nd quarter worth $8,591,000. Wellington Management Group LLP lifted its holdings in FTAI Infrastructure by 10.3% in the 2nd quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company’s stock worth $62,595,000 after buying an additional 1,259,468 shares in the last quarter. Fifth Third Bancorp acquired a new position in FTAI Infrastructure in the 1st quarter worth $1,839,000. Teachers Retirement System of The State of Kentucky lifted its holdings in FTAI Infrastructure by 43.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 433,930 shares of the company’s stock worth $2,144,000 after buying an additional 131,521 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in FTAI Infrastructure by 38.0% in the 1st quarter. Lazard Asset Management LLC now owns 467,149 shares of the company’s stock worth $2,308,000 after buying an additional 128,598 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

About FTAI Infrastructure

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.