Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Rating Lowered to Strong Sell at Zacks Research

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Grupo Aeroportuario del Centro Norte from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings cut shares of Grupo Aeroportuario del Centro Norte from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 1st. Citigroup upgraded shares of Grupo Aeroportuario del Centro Norte from a “neutral” rating to a “buy” rating in a research note on Friday, May 8th. Finally, HSBC upgraded shares of Grupo Aeroportuario del Centro Norte from a “hold” rating to a “buy” rating and upped their price target for the stock from $112.00 to $134.00 in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $134.00.

Grupo Aeroportuario del Centro Norte Stock Performance

Shares of Grupo Aeroportuario del Centro Norte stock opened at $100.72 on Wednesday. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 1.35 and a beta of 0.64. The firm’s 50-day moving average is $110.18 and its 200 day moving average is $111.87. Grupo Aeroportuario del Centro Norte has a 1 year low of $95.69 and a 1 year high of $134.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.12 and a quick ratio of 1.12.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.08). The firm had revenue of $213.33 million during the quarter, compared to the consensus estimate of $199.73 million. Grupo Aeroportuario del Centro Norte had a return on equity of 49.46% and a net margin of 32.67%. Sell-side analysts anticipate that Grupo Aeroportuario del Centro Norte will post 6.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Grupo Aeroportuario del Centro Norte by 253.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,973 shares of the transportation company’s stock worth $2,282,000 after acquiring an additional 15,761 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new stake in Grupo Aeroportuario del Centro Norte in the 3rd quarter worth approximately $1,052,000. Novem Group purchased a new stake in Grupo Aeroportuario del Centro Norte in the 4th quarter worth approximately $1,167,000. Caprock Group LLC purchased a new stake in Grupo Aeroportuario del Centro Norte in the 3rd quarter worth approximately $776,000. Finally, Quent Capital LLC purchased a new stake in Grupo Aeroportuario del Centro Norte in the 4th quarter worth approximately $2,690,000. 9.53% of the stock is owned by hedge funds and other institutional investors.

About Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte, SAB. de C.V. (OMAB) is a Mexican airport operator that develops, manages and operates airports under long‐term concessions granted by the Federal Government of Mexico. The company’s core business covers all aspects of airport operations, including passenger processing, airfield services, security, ground handling, cargo handling and commercial activities such as retail, food and beverage, and parking.

OMA currently holds concession contracts for 13 airports in central and northern Mexico, serving key markets such as Monterrey, Ciudad Juárez, Culiacán, Hermosillo and Torreón.