Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Hits New 12-Month Low – What’s Next?

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB) hit a new 52-week low on Wednesday. The company traded as low as $92.00 and last traded at $92.1860, with a volume of 18650 shares. The stock had previously closed at $94.64.

Analysts Set New Price Targets

A number of brokerages recently commented on OMAB. Weiss Ratings raised Grupo Aeroportuario del Centro Norte from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Zacks Research raised Grupo Aeroportuario del Centro Norte from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. upgraded Grupo Aeroportuario del Centro Norte from an “underweight” rating to a “neutral” rating in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $134.00.

Grupo Aeroportuario del Centro Norte Trading Down 1.4%

The firm’s 50-day moving average price is $101.20 and its 200-day moving average price is $105.86. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10. The company has a market cap of $3.85 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) last released its quarterly earnings data on Wednesday, July 1st. The transportation company reported $1.74 EPS for the quarter. Grupo Aeroportuario del Centro Norte had a net margin of 33.17% and a return on equity of 49.50%. The company had revenue of $255.27 million during the quarter. As a group, equities research analysts expect that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 6.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grupo Aeroportuario del Centro Norte

Several hedge funds have recently made changes to their positions in OMAB. QRG Capital Management Inc. raised its stake in shares of Grupo Aeroportuario del Centro Norte by 15.8% during the 2nd quarter. QRG Capital Management Inc. now owns 2,764 shares of the transportation company’s stock valued at $313,000 after purchasing an additional 378 shares during the period. Squarepoint Ops LLC boosted its stake in Grupo Aeroportuario del Centro Norte by 44.4% in the 2nd quarter. Squarepoint Ops LLC now owns 3,425 shares of the transportation company’s stock worth $387,000 after purchasing an additional 1,053 shares during the period. Opal Capital LLC grew its holdings in Grupo Aeroportuario del Centro Norte by 14.1% during the 1st quarter. Opal Capital LLC now owns 15,136 shares of the transportation company’s stock valued at $1,737,000 after buying an additional 1,870 shares in the last quarter. Amundi grew its holdings in Grupo Aeroportuario del Centro Norte by 60.0% during the 1st quarter. Amundi now owns 5,972 shares of the transportation company’s stock valued at $685,000 after buying an additional 2,240 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Grupo Aeroportuario del Centro Norte by 68.1% during the first quarter. Empowered Funds LLC now owns 168,401 shares of the transportation company’s stock valued at $19,321,000 after buying an additional 68,212 shares during the period. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Aeroportuario del Centro Norte Company Profile

Grupo Aeroportuario del Centro Norte, SAB. de C.V., known as OMA, operates and manages 13 airports in central and northern Mexico. Its airport network serves major metropolitan areas, industrial centers and tourist destinations, including Monterrey, Acapulco, Ciudad Juárez, Culiacán, Chihuahua, Mazatlán, San Luis Potosí, Torreón, Tampico and Zihuatanejo.

The company provides airport services that support commercial aviation, including passenger processing, aircraft landing and parking, baggage handling and other aeronautical operations.