Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Reaches New 12-Month Low - Here's What Happened

Key Points

• OMAB shares fell to a new 52-week low, reaching $87.31 intraday and last trading near $88.04, below the prior close of $89.83.
• Analysts have mostly maintained a cautious outlook: JPMorgan, Zacks Research and Weiss Ratings issued upgrades, but the consensus rating remains “Hold” with an average price target of $134.
• The company reported quarterly EPS of $1.74 on $255.27 million in revenue, with a 33.17% net margin; institutional investors owned 9.53% of the stock after several funds increased their positions.

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $87.31 and last traded at $88.0410, with a volume of 12,178 shares changing hands. The stock had previously closed at $89.83.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OMAB. JPMorgan Chase & Co. raised shares of Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a research note on Wednesday, July 22nd. 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, Weiss Ratings upgraded Grupo Aeroportuario del Centro Norte from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $134.00.

Grupo Aeroportuario del Centro Norte Price Performance

The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. The stock's 50-day moving average price is $100.15 and its 200-day moving average price is $105.39.

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

Institutional Trading of Grupo Aeroportuario del Centro Norte

A number of hedge funds have recently made changes to their positions in the business. Militia Capital Management LLC purchased a new stake in Grupo Aeroportuario del Centro Norte during the 1st quarter valued at $9,732,000. Empirical Finance LLC increased its stake in 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 worth $19,314,000 after buying an additional 71,924 shares in the last quarter. Empowered Funds LLC grew its stake in Grupo Aeroportuario del Centro Norte by 68.1% during the first quarter. Empowered Funds LLC now owns 168,401 shares of the transportation company's stock valued at $19,321,000 after acquiring an additional 68,212 shares in the last quarter. Fisher Funds Management LTD lifted its position in shares of Grupo Aeroportuario del Centro Norte by 19.8% in the first quarter. Fisher Funds Management LTD now owns 148,551 shares of the transportation company's stock worth $17,043,000 after buying an additional 24,583 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Grupo Aeroportuario del Centro Norte by 208.7% during the first quarter. Sei Investments Co. now owns 28,991 shares of the transportation company's stock valued at $3,326,000 after purchasing an additional 19,599 shares during the last quarter. 9.53% of the stock is owned by institutional investors and hedge funds.

Grupo Aeroportuario del Centro Norte Company Profile

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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