Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Hits New 52-Week Low - What's Next?

Key Points

• OMAB shares fell to a new 52-week low of $92.00 during Wednesday trading, below the previous close of $94.64 and its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: OMAB has a consensus “Hold” rating from five analysts, although the $134 average price target implies substantial potential upside.
• The company reported quarterly revenue of $255.27 million and earnings of $1.74 per share, with a 33.17% net margin; institutional investors own 9.53% of the stock and several funds increased their positions.

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $92.00 and last traded at $92.1860, with a volume of 18650 shares changing hands. The stock had previously closed at $94.64.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OMAB. Weiss Ratings raised shares of Grupo Aeroportuario del Centro Norte from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. Zacks Research raised shares of Grupo Aeroportuario del Centro Norte from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 25th. Finally, JPMorgan Chase & Co. raised shares of Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Grupo Aeroportuario del Centro Norte presently has a consensus rating of "Hold" and a consensus price target of $134.00.

Grupo Aeroportuario del Centro Norte Stock Performance

The firm's 50-day moving average price is $101.85 and its 200 day moving average price is $106.12. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.24 and a beta of 0.61.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 1st. The transportation company reported $1.74 earnings per share for the quarter. Grupo Aeroportuario del Centro Norte had a net margin of 33.17% and a return on equity of 49.50%. The business had revenue of $255.27 million for the quarter. On average, sell-side analysts anticipate that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 6.93 EPS for the current year.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its position in shares of Grupo Aeroportuario del Centro Norte by 208.7% during the 1st quarter. Sei Investments Co. now owns 28,991 shares of the transportation company's stock worth $3,326,000 after buying an additional 19,599 shares during the period. Militia Capital Management LLC acquired a new stake in shares of Grupo Aeroportuario del Centro Norte in the 1st quarter valued at approximately $9,732,000. Empirical Finance LLC raised its position in shares of Grupo Aeroportuario del Centro Norte by 74.6% in the 1st quarter. Empirical Finance LLC now owns 168,343 shares of the transportation company's stock valued at $19,314,000 after acquiring an additional 71,924 shares during the period. Empowered Funds LLC boosted its stake in Grupo Aeroportuario del Centro Norte by 68.1% during the 1st quarter. Empowered Funds LLC now owns 168,401 shares of the transportation company's stock worth $19,321,000 after acquiring an additional 68,212 shares during the last quarter. Finally, Fisher Funds Management LTD grew its holdings in Grupo Aeroportuario del Centro Norte by 19.8% during the first quarter. Fisher Funds Management LTD now owns 148,551 shares of the transportation company's stock valued at $17,043,000 after purchasing an additional 24,583 shares during the period. 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., known as OMA, operates and manages 13 airports in central and northern Mexico. Its airport network serves major metropolitan areas, industrial centers and tourist destinations, including Monterrey, Acapulco, Ciudad Juárez, Culiacán, Chihuahua, Mazatlán, San Luis Potosí, Torreón, Tampico and Zihuatanejo.

The company provides airport services that support commercial aviation, including passenger processing, aircraft landing and parking, baggage handling and other aeronautical operations.

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