10 Worst Airport Stocks to Buy

3. Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC)

Number of Hedge Fund Holders: 7

Average Analyst Price Target Upside: 0.81%

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC), also known as GAP Airports, is an airport operator based in Guadalajara, Mexico. It oversees a network of 12 airports across central and northwestern Mexico and two in Jamaica.

The airports managed by GAP feature important sites like Guadalajara, Tijuana, Puerto Vallarta, and Los Cabos, along with Sangster International Airport and Norman Manley International Airport in Jamaica. The company caters to many clients, including airlines, freight companies, retail brands, and travelers.

GAP Airports (NYSE:PAC) stock has been covered by 17 analysts with an average price target of $181, which implies an upside of 0.81%, as of September 26. Despite neutral/negative sentiment by analysts, the company’s combination of strategic route expansion, strong commercial revenue growth, sound financial management, and commitment to exploring new markets makes it a strong company.

In the first half of the year, the company added 13 new routes, which include international connections, and has planned the addition of around 11 more international routes in the second half of the year.

Moreover, the company showed strong performance in non-aeronautical revenues, which increased by nearly 11%. The growth has been driven primarily by enhanced offerings in food and beverage, car rentals, and VIP lounge services.

As of the second quarter, 7 hedge funds had stakes in GAP Airports (NYSE:PAC), worth $86.696 million. As of June 30, Renaissance Technologies owns 532,200 shares worth $82.9 million, according to Insider Monkey’s Q2 database. The company is the third worst stock to buy according to analyst price target upside as of September 26.