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TheStreet Wire

Macquarie Infrastructure Stock Hits New 52-Week High (MIC)

By TheStreet Wire 04/02/12 - 09:02 AM EDT

Find out if (MIC) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Macquarie Infrastructure Company (NYSE:MIC) hit a new 52-week high Monday as it is currently trading at $34.42, above its previous 52-week high of $33.35 with 51,483 shares traded as of 9:35 a.m. ET. Average volume has been 161,700 shares over the past 30 days.

Macquarie Infrastructure has a market cap of $1.3 billion and is part of the services sector and wholesale industry. Shares are up 18% year to date as of the close of trading on Friday.

Macquarie Infrastructure Company LLC, through its subsidiaries, owns, operates, and invests in a diversified group of infrastructure businesses in the United States. The company has a P/E ratio of 55.3, below the average wholesale industry P/E ratio of 67 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Macquarie Infrastructure as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, increase in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Macquarie Infrastructure Ratings Report.

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