Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Downgraded to Underperform Rating by Bank of America

Bank of America cut shares of Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) from a buy rating to an underperform rating in a research note published on Friday morning, Marketbeat.com reports. The firm currently has $71.50 price objective on the transportation company’s stock.

Several other equities analysts have also issued reports on OMAB. Scotiabank raised shares of Grupo Aeroportuario del Centro Norte from a “sector underperform” rating to a “sector perform” rating in a report on Wednesday, September 25th. Morgan Stanley upgraded shares of Grupo Aeroportuario del Centro Norte from an “equal weight” rating to an “overweight” rating and lowered their target price for the company 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 assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Grupo Aeroportuario del Centro Norte currently has an average rating of “Hold” and an average target price of $80.83.

Grupo Aeroportuario del Centro Norte Trading Up 2.7 %

OMAB stock opened at $64.79 on Friday. The firm’s fifty day simple moving average is $68.05 and its two-hundred day simple moving average is $70.33. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 3.82 and a beta of 1.31. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. Grupo Aeroportuario del Centro Norte has a twelve month low of $59.08 and a twelve month high of $90.53.

Grupo Aeroportuario del Centro Norte Dividend Announcement

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

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 business. Signaturefd LLC grew its stake in shares of Grupo Aeroportuario del Centro Norte by 109.2% in the third quarter. Signaturefd LLC now owns 498 shares of the transportation company’s stock valued at $34,000 after buying an additional 260 shares in the last quarter. US Bancorp DE raised its stake in Grupo Aeroportuario del Centro Norte by 143.8% in the third quarter. US Bancorp DE now owns 507 shares of the transportation company’s stock valued at $34,000 after buying an additional 299 shares in the last quarter. Barclays PLC purchased a new position in Grupo Aeroportuario del Centro Norte in the third quarter valued at approximately $72,000. Blue Trust Inc. raised its stake in Grupo Aeroportuario del Centro Norte by 565.3% during the 2nd quarter. Blue Trust Inc. now owns 1,131 shares of the transportation company’s stock worth $77,000 after acquiring an additional 961 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Grupo Aeroportuario del Centro Norte in the 1st quarter valued at about $202,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

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.