Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Hits New 12-Month High – Here’s Why

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $130.33 and last traded at $130.3550, with a volume of 8398 shares changing hands. The stock had previously closed at $128.15.

Wall Street Analysts Forecast Growth

OMAB has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Grupo Aeroportuario del Centro Norte in a report on Friday, January 9th. Zacks Research upgraded Grupo Aeroportuario del Centro Norte from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Finally, Wall Street Zen upgraded Grupo Aeroportuario del Centro Norte from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $106.00.

Grupo Aeroportuario del Centro Norte Stock Down 1.0%

The company has a market cap of $5.54 billion, a P/E ratio of 23.02, a PEG ratio of 2.03 and a beta of 0.74. The business’s 50 day moving average price is $114.85 and its 200-day moving average price is $108.13. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.14 and a quick ratio of 1.14.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Hedge funds have recently added to or reduced their stakes in the stock. AGF Management Ltd. acquired a new stake in Grupo Aeroportuario del Centro Norte in the second quarter worth about $872,000. Empirical Finance LLC lifted its position in Grupo Aeroportuario del Centro Norte by 73.9% during the 2nd quarter. Empirical Finance LLC now owns 49,941 shares of the transportation company’s stock valued at $5,269,000 after purchasing an additional 21,228 shares during the period. Advisors Capital Management LLC boosted its stake in shares of Grupo Aeroportuario del Centro Norte by 9.6% in the 2nd quarter. Advisors Capital Management LLC now owns 33,043 shares of the transportation company’s stock valued at $3,486,000 after purchasing an additional 2,902 shares during the last quarter. American Century Companies Inc. grew its position in shares of Grupo Aeroportuario del Centro Norte by 18.4% during the 2nd quarter. American Century Companies Inc. now owns 115,744 shares of the transportation company’s stock worth $12,211,000 after buying an additional 18,028 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Grupo Aeroportuario del Centro Norte during the third quarter worth approximately $776,000. 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. (OMAB) is a Mexican airport operator that develops, manages and operates airports under long‐term concessions granted by the Federal Government of Mexico. The company’s core business covers all aspects of airport operations, including passenger processing, airfield services, security, ground handling, cargo handling and commercial activities such as retail, food and beverage, and parking.

OMA currently holds concession contracts for 13 airports in central and northern Mexico, serving key markets such as Monterrey, Ciudad Juárez, Culiacán, Hermosillo and Torreón.