Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Trading Up 5.4% – Here’s Why

Shares of Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB) rose 5.4% during mid-day trading on Thursday . The stock traded as high as $70.46 and last traded at $70.42. Approximately 28,392 shares were traded during trading, a decline of 54% from the average daily volume of 61,310 shares. The stock had previously closed at $66.82.

Analyst Upgrades and Downgrades

OMAB has been the topic of several research analyst reports. Morgan Stanley upgraded 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 research report on Friday, September 6th. Scotiabank upgraded Grupo Aeroportuario del Centro Norte from a “sector underperform” rating to a “sector perform” rating in a research report on Wednesday, September 25th. Finally, Bank of America cut Grupo Aeroportuario del Centro Norte from a “buy” rating to an “underperform” rating and set a $71.50 target price on the stock. in a report on Friday, November 15th. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $80.83.

Grupo Aeroportuario del Centro Norte Stock Up 4.5 %

The business has a 50-day simple moving average of $66.60 and a two-hundred day simple moving average of $68.57. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 3.93 and a beta of 1.30. 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 Announces Dividend

The company also recently declared a Thrice Yearly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a dividend of $1.921 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a yield of 6.5%. Grupo Aeroportuario del Centro Norte’s dividend payout ratio is 99.12%.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Several large investors have recently modified their holdings of OMAB. 1832 Asset Management L.P. acquired a new position in shares of Grupo Aeroportuario del Centro Norte in the 2nd quarter worth approximately $11,318,000. National Bank of Canada FI raised its position in shares of Grupo Aeroportuario del Centro Norte by 130,579.6% during the 3rd quarter. National Bank of Canada FI now owns 121,532 shares of the transportation company’s stock valued at $8,242,000 after acquiring an additional 121,439 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position 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 in the last quarter. Duff & Phelps Investment Management Co. bought a new stake in shares of Grupo Aeroportuario del Centro Norte in the 2nd quarter valued at $2,300,000. Finally, Marshall Wace LLP increased its position in shares of Grupo Aeroportuario del Centro Norte by 78.1% in the 2nd quarter. Marshall Wace LLP now owns 69,809 shares of the transportation company’s stock valued at $4,723,000 after buying an additional 30,604 shares in the last quarter. 9.53% of the stock is currently owned by institutional investors.

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.