Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Cut to "Hold" at Zacks Research

Key Points

• Grupo Aeroportuario del Centro Norte has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, signaling a shift in investor sentiment.
• Despite the downgrade, Bank of America upgraded the stock to a "neutral" rating, while Goldman Sachs raised its price target to $106.00 and maintained a "buy" rating.
• The company's stock has a current market cap of $4.59 billion and a consensus price target of $88.38 according to MarketBeat, reflecting mixed analyst opinions on its future performance.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday, August 19th,Zacks.com reports.

A number of other research analysts have also weighed in on OMAB. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Grupo Aeroportuario del Centro Norte in a research note on Friday, May 23rd. Bank of America upgraded Grupo Aeroportuario del Centro Norte from an "underperform" rating to a "neutral" rating in a report on Monday, May 19th. Finally, The Goldman Sachs Group upped their price objective on shares of Grupo Aeroportuario del Centro Norte from $89.00 to $106.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $88.38.

Grupo Aeroportuario del Centro Norte Stock Performance

NASDAQ OMAB traded down $0.08 on Tuesday, hitting $104.48. 19,419 shares of the company's stock were exchanged, compared to its average volume of 73,561. The firm's 50-day moving average price is $106.97 and its two-hundred day moving average price is $93.70. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 2.58 and a beta of 0.94. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.86 and a quick ratio of 0.86. Grupo Aeroportuario del Centro Norte has a fifty-two week low of $59.08 and a fifty-two week high of $116.25.

Hedge Funds Weigh In On Grupo Aeroportuario del Centro Norte

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Grupo Aeroportuario del Centro Norte by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 5,140 shares of the transportation company's stock valued at $353,000 after acquiring an additional 126 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Grupo Aeroportuario del Centro Norte by 14.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 31,517 shares of the transportation company's stock worth $2,163,000 after acquiring an additional 4,048 shares during the last quarter. Invesco Ltd. lifted its position in Grupo Aeroportuario del Centro Norte by 7.9% during the 4th quarter. Invesco Ltd. now owns 17,206 shares of the transportation company's stock worth $1,181,000 after acquiring an additional 1,257 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Grupo Aeroportuario del Centro Norte by 3.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 27,098 shares of the transportation company's stock worth $1,858,000 after acquiring an additional 802 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Grupo Aeroportuario del Centro Norte by 3,581.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 405 shares of the transportation company's stock valued at $28,000 after buying an additional 394 shares during the last quarter. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

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.