Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Trading Down 4.2% - Here's Why

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB - Get Free Report)'s share price was down 4.2% during mid-day trading on Monday . The company traded as low as $87.14 and last traded at $86.33. Approximately 11,232 shares were traded during trading, a decline of 84% from the average daily volume of 71,645 shares. The stock had previously closed at $90.13.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price target on shares of Grupo Aeroportuario del Centro Norte from $94.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $82.50.

Grupo Aeroportuario del Centro Norte Price Performance

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 company has a 50-day simple moving average of $80.05 and a 200-day simple moving average of $74.66. The stock has a market cap of $3.76 billion, a PE ratio of 15.59 and a beta of 0.88.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.02. The business had revenue of $174.65 million during the quarter, compared to the consensus estimate of $3.58 billion. Grupo Aeroportuario del Centro Norte had a net margin of 35.31% and a return on equity of 51.74%. Sell-side analysts anticipate that Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. will post 5.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Institutional investors have recently modified their holdings of the company. Cerity Partners LLC purchased a new position in Grupo Aeroportuario del Centro Norte in the 1st quarter valued at approximately $244,000. Pekin Hardy Strauss Inc. increased its position in shares of Grupo Aeroportuario del Centro Norte by 28.1% in the first quarter. Pekin Hardy Strauss Inc. now owns 8,930 shares of the transportation company's stock valued at $702,000 after buying an additional 1,960 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Grupo Aeroportuario del Centro Norte by 0.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 31,667 shares of the transportation company's stock worth $2,490,000 after buying an additional 150 shares during the last quarter. Naples Global Advisors LLC boosted its position in shares of Grupo Aeroportuario del Centro Norte by 18.7% in the 1st quarter. Naples Global Advisors LLC now owns 21,030 shares of the transportation company's stock worth $1,654,000 after buying an additional 3,310 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Grupo Aeroportuario del Centro Norte by 9,378.1% in the 1st quarter. GAMMA Investing LLC now owns 6,919 shares of the transportation company's stock valued at $5,440,000 after acquiring an additional 6,846 shares during the last quarter. Hedge funds and other institutional investors 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.