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

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

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of Grupo Aeroportuario del Centro Norte from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $82.00 to $77.00 in a report on Friday, September 6th. 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Grupo Aeroportuario del Centro Norte currently has a consensus rating of “Hold” and an average target price of $80.83.

Grupo Aeroportuario del Centro Norte Stock Performance

Grupo Aeroportuario del Centro Norte stock opened at $65.85 on Friday. Grupo Aeroportuario del Centro Norte has a 52 week low of $59.08 and a 52 week high of $90.53. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 11.61, a P/E/G 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. The company has a 50 day moving average price of $68.09 and a 200 day moving average price of $70.90.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. 1832 Asset Management L.P. acquired a new position in shares of Grupo Aeroportuario del Centro Norte during the 2nd quarter worth approximately $11,318,000. Russell Investments Group Ltd. lifted 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 worth $9,269,000 after purchasing an additional 871 shares during the period. American Century Companies Inc. grew its position in shares of Grupo Aeroportuario del Centro Norte by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 72,083 shares of the transportation company’s stock valued at $4,876,000 after buying an additional 4,149 shares during the last quarter. Marshall Wace LLP increased its position in Grupo Aeroportuario del Centro Norte by 78.1% during the 2nd quarter. Marshall Wace LLP now owns 69,809 shares of the transportation company’s stock valued at $4,723,000 after purchasing an additional 30,604 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Grupo Aeroportuario del Centro Norte by 10.6% during the second quarter. Mackenzie Financial Corp now owns 62,185 shares of the transportation company’s stock worth $4,207,000 after buying an additional 5,949 shares during the period. 9.53% of the stock is owned by institutional investors and hedge funds.

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.