Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Shares Gap Down – Time to Sell?

Shares of Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB) gapped down prior to trading on Friday . The stock had previously closed at $65.85, but opened at $63.13. Grupo Aeroportuario del Centro Norte shares last traded at $64.77, with a volume of 6,665 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OMAB shares. Morgan Stanley raised Grupo Aeroportuario del Centro Norte from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $82.00 to $77.00 in a research report on Friday, September 6th. Scotiabank raised Grupo Aeroportuario del Centro Norte from a “sector underperform” rating to a “sector perform” rating in a report on Wednesday, September 25th. Finally, Bank of America downgraded Grupo Aeroportuario del Centro Norte from a “buy” rating to an “underperform” rating and set a $71.50 price objective for the company. in a report on Friday. One equities research 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’s stock. According to MarketBeat, Grupo Aeroportuario del Centro Norte presently has a consensus rating of “Hold” and a consensus price target of $80.83.

Grupo Aeroportuario del Centro Norte Price Performance

The firm’s fifty day simple moving average is $68.09 and its two-hundred day simple moving average is $70.90. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The firm has a market cap of $2.73 billion, a PE ratio of 11.61, a P/E/G ratio of 3.99 and a beta of 1.31.

Grupo Aeroportuario del Centro Norte Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a yield of 6.5%. Grupo Aeroportuario del Centro Norte’s payout ratio is presently 101.59%.

Hedge Funds Weigh In On Grupo Aeroportuario del Centro Norte

Several hedge funds have recently modified their holdings of the stock. 1832 Asset Management L.P. bought a new stake in shares of Grupo Aeroportuario del Centro Norte in the second quarter worth about $11,318,000. Russell Investments Group Ltd. boosted its holdings in Grupo Aeroportuario del Centro Norte by 0.7% during the 1st quarter. Russell Investments Group Ltd. now owns 117,193 shares of the transportation company’s stock valued at $9,269,000 after acquiring an additional 871 shares during the period. American Century Companies Inc. grew its holdings in shares of Grupo Aeroportuario del Centro Norte by 6.1% in the second quarter. American Century Companies Inc. now owns 72,083 shares of the transportation company’s stock worth $4,876,000 after purchasing an additional 4,149 shares during the last quarter. Marshall Wace LLP increased its holdings 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 worth $4,723,000 after purchasing an additional 30,604 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Grupo Aeroportuario del Centro Norte by 10.6% in the 2nd quarter. Mackenzie Financial Corp now owns 62,185 shares of the transportation company’s stock valued at $4,207,000 after acquiring an additional 5,949 shares during the period. Hedge funds and other institutional investors 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.