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

Key Points

• Grupo Aeroportuario del Centro Norte shares hit a new 52-week low, trading as low as $95.29 and falling 2.9%, with the stock last quoted near $95.16.
• Analysts have generally become less bearish, with recent upgrades to “hold” or “neutral”; however, the consensus rating remains Hold, alongside a $134 average price target.
• The company reported quarterly EPS of $1.74 on $255.27 million in revenue, while institutional ownership stands at 9.53% and several hedge funds recently increased their positions.

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $95.29 and last traded at $95.1550, with a volume of 10569 shares. The stock had previously closed at $96.61.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OMAB. Weiss Ratings upgraded 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 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 Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Grupo Aeroportuario del Centro Norte currently has a consensus rating of "Hold" and a consensus target price of $134.00.

Grupo Aeroportuario del Centro Norte Stock Down 2.9%

The company has a market capitalization of $3.99 billion, a P/E ratio of 15.02, a PEG ratio of 1.29 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. The stock has a 50 day moving average price of $102.70 and a 200 day moving average price of $106.49.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last issued its earnings results on Wednesday, July 1st. The transportation company reported $1.74 earnings per share (EPS) for the quarter. The business had revenue of $255.27 million during the quarter. Grupo Aeroportuario del Centro Norte had a return on equity of 49.50% and a net margin of 33.17%. On average, 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 fiscal year.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Hedge funds have recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its position in shares of Grupo Aeroportuario del Centro Norte by 15.8% in the 2nd quarter. QRG Capital Management Inc. now owns 2,764 shares of the transportation company's stock valued at $313,000 after buying an additional 378 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Grupo Aeroportuario del Centro Norte by 44.4% during the second quarter. Squarepoint Ops LLC now owns 3,425 shares of the transportation company's stock worth $387,000 after acquiring an additional 1,053 shares during the last quarter. Opal Capital LLC lifted its stake in shares of Grupo Aeroportuario del Centro Norte by 14.1% in the first quarter. Opal Capital LLC now owns 15,136 shares of the transportation company's stock worth $1,737,000 after acquiring an additional 1,870 shares during the period. Amundi lifted its stake in shares of Grupo Aeroportuario del Centro Norte by 60.0% in the first quarter. Amundi now owns 5,972 shares of the transportation company's stock worth $685,000 after acquiring an additional 2,240 shares during the period. Finally, Empowered Funds LLC boosted 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 valued at $19,321,000 after purchasing an additional 68,212 shares during the last quarter. 9.53% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.