Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Cut to Underperform at Bank of America

Bank of America downgraded shares of Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) from a buy rating to an underperform rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm currently has $71.50 price target on the transportation company’s stock.

OMAB has been the topic of several other reports. Scotiabank upgraded Grupo Aeroportuario del Centro Norte from a “sector underperform” rating to a “sector perform” rating in a research note on Wednesday, September 25th. Morgan Stanley upgraded Grupo Aeroportuario del Centro Norte from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $82.00 to $77.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Grupo Aeroportuario del Centro Norte presently has an average rating of “Hold” and a consensus price target of $80.83.

Grupo Aeroportuario del Centro Norte Stock Performance

Grupo Aeroportuario del Centro Norte stock opened at $63.09 on Friday. The stock has a market cap of $2.68 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 3.82 and a beta of 1.31. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The stock has a 50 day moving average of $68.08 and a 200-day moving average of $70.49. Grupo Aeroportuario del Centro Norte has a 52 week low of $59.08 and a 52 week high of $90.53.

Grupo Aeroportuario del Centro Norte Dividend Announcement

The business also recently announced a Thrice Yearly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be paid a $1.921 dividend. This represents a yield of 6.5%. The ex-dividend date is Tuesday, November 19th. Grupo Aeroportuario del Centro Norte’s payout ratio is 80.95%.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Grupo Aeroportuario del Centro Norte by 6.6% in the third quarter. State Street Corp now owns 316,425 shares of the transportation company’s stock valued at $21,460,000 after buying an additional 19,683 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Grupo Aeroportuario del Centro Norte during the second quarter valued at $11,318,000. National Bank of Canada FI increased its holdings in shares of Grupo Aeroportuario del Centro Norte by 130,579.6% during the third quarter. National Bank of Canada FI now owns 121,532 shares of the transportation company’s stock valued at $8,242,000 after purchasing an additional 121,439 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Grupo Aeroportuario del Centro Norte by 0.7% during the first quarter. Russell Investments Group Ltd. now owns 117,193 shares of the transportation company’s stock valued at $9,269,000 after purchasing an additional 871 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Grupo Aeroportuario del Centro Norte by 6.1% during the second quarter. American Century Companies Inc. now owns 72,083 shares of the transportation company’s stock valued at $4,876,000 after purchasing an additional 4,149 shares during the period. 9.53% of the stock is currently owned by institutional investors.

Grupo Aeroportuario del Centro Norte Company Profile

Grupo Aeroportuario del Centro Norte, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and maintain airports in Mexico. The company operates 13 international airports in Monterrey, Acapulco, Mazatlán, Zihuatanejo, Ciudad Juárez, Reynosa, Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas cities.