Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Lowered to “Underperform” Rating by Bank of America

Bank of America lowered shares of Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) from a buy rating to an underperform rating in a research note issued to investors on Friday morning, MarketBeat.com reports. The firm currently has $71.50 price objective on the transportation company’s stock.

A number of other analysts also recently issued reports on the stock. Scotiabank upgraded shares of Grupo Aeroportuario del Centro Norte from a “sector underperform” rating to a “sector perform” rating in a research report on Wednesday, September 25th. Morgan Stanley raised shares of Grupo Aeroportuario del Centro Norte from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $82.00 to $77.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.83.

Grupo Aeroportuario del Centro Norte Price Performance

Shares of Grupo Aeroportuario del Centro Norte stock traded down $2.76 during trading on Friday, hitting $63.09. The stock had a trading volume of 76,462 shares, compared to its average volume of 60,604. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 3.99 and a beta of 1.31. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The business’s 50-day moving average is $68.08 and its 200 day moving average is $70.72. Grupo Aeroportuario del Centro Norte has a 12 month low of $59.08 and a 12 month high of $90.53.

Grupo Aeroportuario del Centro Norte Announces Dividend

The company also recently disclosed a Thrice Yearly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a dividend of $1.921 per share. This represents a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, November 19th. Grupo Aeroportuario del Centro Norte’s dividend payout ratio is currently 101.59%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in Grupo Aeroportuario del Centro Norte by 109.2% in the third quarter. Signaturefd LLC now owns 498 shares of the transportation company’s stock worth $34,000 after acquiring an additional 260 shares in the last quarter. US Bancorp DE grew 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 last quarter. Barclays PLC bought a new stake in Grupo Aeroportuario del Centro Norte during the 3rd quarter valued at about $72,000. Blue Trust Inc. raised its holdings in Grupo Aeroportuario del Centro Norte by 565.3% in the second quarter. Blue Trust Inc. now owns 1,131 shares of the transportation company’s stock worth $77,000 after buying an additional 961 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Grupo Aeroportuario del Centro Norte in the first quarter worth approximately $202,000. 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., 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.