Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Stock Price Down 9.1% – Here’s Why

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB)’s stock price traded down 9.1% during trading on Tuesday . The company traded as low as $117.93 and last traded at $118.8050. 37,159 shares traded hands during trading, a decline of 51% from the average session volume of 76,556 shares. The stock had previously closed at $130.77.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Grupo Aeroportuario del Centro Norte in a research note on Friday, January 9th. Wall Street Zen raised shares of Grupo Aeroportuario del Centro Norte from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 15th. Finally, Zacks Research raised shares of Grupo Aeroportuario del Centro Norte from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Grupo Aeroportuario del Centro Norte has a consensus rating of “Hold” and a consensus price target of $106.00.

Grupo Aeroportuario del Centro Norte Price Performance

The company has a market cap of $5.36 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 2.08 and a beta of 0.74. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.17. The firm has a 50 day simple moving average of $116.27 and a 200-day simple moving average of $108.67.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

A number of hedge funds and other institutional investors have recently bought and sold shares of OMAB. Vident Advisory LLC boosted its stake in Grupo Aeroportuario del Centro Norte by 1.6% in the fourth quarter. Vident Advisory LLC now owns 11,809 shares of the transportation company’s stock valued at $1,285,000 after acquiring an additional 188 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Grupo Aeroportuario del Centro Norte by 28.3% in the 4th quarter. Mackenzie Financial Corp now owns 36,908 shares of the transportation company’s stock worth $4,008,000 after purchasing an additional 8,135 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Grupo Aeroportuario del Centro Norte by 42.5% in the 4th quarter. Empowered Funds LLC now owns 100,189 shares of the transportation company’s stock worth $11,707,000 after purchasing an additional 29,870 shares in the last quarter. Guggenheim Capital LLC grew its stake in Grupo Aeroportuario del Centro Norte by 52.8% during the 4th quarter. Guggenheim Capital LLC now owns 4,965 shares of the transportation company’s stock worth $540,000 after buying an additional 1,715 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in Grupo Aeroportuario del Centro Norte during the 4th quarter valued at about $579,000. 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. (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.