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

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) was downgraded by Bank of America from a “buy” rating to an “underperform” rating in a report issued on Friday, Marketbeat.com reports. They currently have a $71.50 price target on the transportation company’s stock. Bank of America‘s price target points to a potential upside of 13.33% from the stock’s previous close.

Several other research firms also recently commented on OMAB. Scotiabank upgraded Grupo Aeroportuario del Centro Norte from a “sector underperform” rating to a “sector perform” rating in a report on Wednesday, September 25th. Morgan Stanley raised Grupo Aeroportuario del Centro Norte from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $82.00 to $77.00 in a research note on Friday, September 6th. One equities 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $80.83.

Grupo Aeroportuario del Centro Norte Price Performance

Shares of NASDAQ:OMAB opened at $63.09 on Friday. 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 stock has a market cap of $2.68 billion, a PE ratio of 11.13, a PEG ratio of 3.82 and a beta of 1.31. The company’s fifty day moving average is $68.08 and its 200 day moving average is $70.60. Grupo Aeroportuario del Centro Norte has a 52 week low of $59.08 and a 52 week high of $90.53.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC increased its stake in shares of Grupo Aeroportuario del Centro Norte by 109.2% during 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 during the period. US Bancorp DE increased its position in Grupo Aeroportuario del Centro Norte by 143.8% during the 3rd quarter. US Bancorp DE now owns 507 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 299 shares during the period. Barclays PLC bought a new position in Grupo Aeroportuario del Centro Norte in the 3rd quarter worth $72,000. Blue Trust Inc. lifted its position in shares of Grupo Aeroportuario del Centro Norte by 565.3% in the 2nd quarter. Blue Trust Inc. now owns 1,131 shares of the transportation company’s stock worth $77,000 after purchasing an additional 961 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Grupo Aeroportuario del Centro Norte during the 1st quarter valued at about $202,000. Hedge funds and other 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.