Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Upgraded by JPMorgan Chase & Co. to Neutral Rating

Key Points

• JPMorgan Chase & Co. upgraded OMAB from “underweight” to “neutral,” adding to a mixed but improving analyst picture for the stock.
• Overall analyst sentiment is now Hold, with two Buy ratings and three Hold ratings, and the average price target sits at $134.00.
• OMAB reported Q1 earnings of $1.41 per share, missing estimates, while revenue came in at $213.33 million, above expectations; the stock opened at $104.23 and trades below its 52-week high.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) was upgraded by JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a research report issued on Wednesday, MarketBeat reports.

Several other analysts have also recently issued reports on the company. Citigroup upgraded Grupo Aeroportuario del Centro Norte from a "neutral" rating to a "buy" rating in a research report on Friday, May 8th. Weiss Ratings downgraded Grupo Aeroportuario del Centro Norte from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 1st. HSBC raised shares of Grupo Aeroportuario del Centro Norte from a "hold" rating to a "buy" rating and increased their price objective for the company from $112.00 to $134.00 in a report on Thursday, April 16th. Zacks Research raised shares of Grupo Aeroportuario del Centro Norte from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Finally, Wall Street Zen cut shares of Grupo Aeroportuario del Centro Norte from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Grupo Aeroportuario del Centro Norte presently has an average rating of "Hold" and an average target price of $134.00.

Grupo Aeroportuario del Centro Norte Stock Performance

OMAB opened at $104.23 on Wednesday. The firm has a market cap of $4.43 billion, a P/E ratio of 17.43, a PEG ratio of 1.35 and a beta of 0.60. Grupo Aeroportuario del Centro Norte has a 1-year low of $95.69 and a 1-year high of $134.99. The company has a 50 day simple moving average of $105.85 and a two-hundred day simple moving average of $111.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.12 and a quick ratio of 1.12.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last issued its earnings results on Tuesday, April 28th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.08). The firm had revenue of $213.33 million during the quarter, compared to the consensus estimate of $199.73 million. Grupo Aeroportuario del Centro Norte had a return on equity of 49.46% and a net margin of 32.67%. Equities analysts forecast that Grupo Aeroportuario del Centro Norte will post 6.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OMAB. Opal Capital LLC raised its stake in Grupo Aeroportuario del Centro Norte by 14.1% during the first quarter. Opal Capital LLC now owns 15,136 shares of the transportation company's stock valued at $1,737,000 after purchasing an additional 1,870 shares in the last quarter. Amundi grew its stake in shares of Grupo Aeroportuario del Centro Norte by 60.0% in the 1st quarter. Amundi now owns 5,972 shares of the transportation company's stock worth $685,000 after buying an additional 2,240 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Grupo Aeroportuario del Centro Norte by 68.1% in the 1st quarter. Empowered Funds LLC now owns 168,401 shares of the transportation company's stock worth $19,321,000 after buying an additional 68,212 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Grupo Aeroportuario del Centro Norte by 60.9% in the 1st quarter. Quantinno Capital Management LP now owns 12,076 shares of the transportation company's stock worth $1,385,000 after buying an additional 4,569 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of Grupo Aeroportuario del Centro Norte by 74.6% during the 1st quarter. Empirical Finance LLC now owns 168,343 shares of the transportation company's stock valued at $19,314,000 after buying an additional 71,924 shares in the last quarter. 9.53% of the stock is owned by hedge funds and other institutional investors.

Grupo Aeroportuario del Centro Norte Company Profile

Grupo Aeroportuario del Centro Norte, SAB. de C.V. (OMAB) is a Mexican airport operator that develops, manages and operates airports under long‐term concessions granted by the Federal Government of Mexico. The company's core business covers all aspects of airport operations, including passenger processing, airfield services, security, ground handling, cargo handling and commercial activities such as retail, food and beverage, and parking.

OMA currently holds concession contracts for 13 airports in central and northern Mexico, serving key markets such as Monterrey, Ciudad Juárez, Culiacán, Hermosillo and Torreón.

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