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

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) was downgraded by stock analysts at Bank of America from a “buy” rating to an “underperform” rating in a report released on Friday, Marketbeat Ratings reports. They presently have a $71.50 price objective on the transportation company’s stock. Bank of America‘s price target would indicate a potential upside of 8.58% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Scotiabank raised shares of Grupo Aeroportuario del Centro Norte from a “sector underperform” rating to a “sector perform” rating in a research report on Wednesday, September 25th. Morgan Stanley raised shares of Grupo Aeroportuario del Centro Norte from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $82.00 to $77.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $80.83.

Grupo Aeroportuario del Centro Norte Price Performance

OMAB stock opened at $65.85 on Friday. The firm has a market cap of $2.80 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 3.99 and a beta of 1.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.08. Grupo Aeroportuario del Centro Norte has a 1 year low of $59.08 and a 1 year high of $90.53. The stock has a 50-day simple moving average of $68.09 and a 200-day simple moving average of $70.90.

Hedge Funds Weigh In On Grupo Aeroportuario del Centro Norte

Several large investors have recently modified their holdings of the stock. 1832 Asset Management L.P. bought a new position in Grupo Aeroportuario del Centro Norte during the 2nd quarter worth approximately $11,318,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Grupo Aeroportuario del Centro Norte by 355.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 53,700 shares of the transportation company’s stock valued at $3,633,000 after buying an additional 41,900 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Grupo Aeroportuario del Centro Norte by 10.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,659 shares of the transportation company’s stock valued at $312,000 after buying an additional 435 shares during the last quarter. Duff & Phelps Investment Management Co. acquired a new stake in Grupo Aeroportuario del Centro Norte during the second quarter worth about $2,300,000. Finally, Virtu Financial LLC acquired a new position in Grupo Aeroportuario del Centro Norte in the first quarter valued at approximately $202,000. Institutional investors own 9.53% of the company’s stock.

About Grupo Aeroportuario del Centro Norte

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.