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

Bank of America downgraded shares of Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Free Report) from a buy rating to an underperform rating in a research report report published on Friday morning, MarketBeat.com reports. The brokerage currently has $71.50 target price on the transportation company's stock.

A number of other equities research analysts have also recently commented on the stock. Scotiabank raised shares of Grupo Aeroportuario del Centro Norte from a "sector underperform" rating to a "sector perform" rating in a report on Wednesday, September 25th. Morgan Stanley upgraded 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 research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $80.83.

Grupo Aeroportuario del Centro Norte Stock Performance

Shares of OMAB stock traded down $2.76 during trading hours on Friday, hitting $63.09. The stock had a trading volume of 76,462 shares, compared to its average volume of 60,604. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $2.68 billion, a PE ratio of 11.61, a PEG ratio of 3.99 and a beta of 1.31. The stock's 50 day moving average is $68.09 and its 200 day moving average is $70.90. Grupo Aeroportuario del Centro Norte has a twelve month low of $59.08 and a twelve month high of $90.53.

Grupo Aeroportuario del Centro Norte Dividend Announcement

The firm also recently declared a Thrice Yearly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be issued a $1.921 dividend. This represents a dividend yield of 6.5%. The ex-dividend date of this dividend is Tuesday, November 19th. Grupo Aeroportuario del Centro Norte's dividend payout ratio (DPR) is presently 101.59%.

Institutional Trading of Grupo Aeroportuario del Centro Norte

A number of large investors have recently made changes to their positions in the stock. 1832 Asset Management L.P. purchased a new position in Grupo Aeroportuario del Centro Norte in the 2nd quarter valued at about $11,318,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Grupo Aeroportuario del Centro Norte by 355.1% during the second 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 during the period. Vanguard Personalized Indexing Management LLC boosted its position in Grupo Aeroportuario del Centro Norte by 10.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,659 shares of the transportation company's stock worth $312,000 after acquiring an additional 435 shares during the last quarter. Duff & Phelps Investment Management Co. purchased a new stake in Grupo Aeroportuario del Centro Norte in the 2nd quarter worth approximately $2,300,000. Finally, Virtu Financial LLC acquired a new position in Grupo Aeroportuario del Centro Norte in the 1st quarter valued at $202,000. Institutional investors and hedge funds own 9.53% of the company's stock.

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.