Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

Shares of Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $107.77 and traded as high as $109.34. Grupo Aeroportuario del Centro Norte shares last traded at $108.39, with a volume of 206,116 shares.

Analyst Ratings Changes

Several research firms recently issued reports on OMAB. Zacks Research cut shares of Grupo Aeroportuario del Centro Norte from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grupo Aeroportuario del Centro Norte in a research note on Monday, October 26th. Finally, JPMorgan Chase & Co. upgraded shares of Grupo Aeroportuario del Centro Norte from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Grupo Aeroportuario del Centro Norte has an average rating of “Hold” and a consensus target price of $134.00.

Grupo Aeroportuario del Centro Norte Price Performance

The company has a 50 day simple moving average of $97.94 and a 200 day simple moving average of $107.77. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.09 and a beta of 0.61. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.22.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) last released its quarterly earnings data on Tuesday, October 27th. The transportation company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.05). The firm had revenue of $268.96 million during the quarter, compared to analyst estimates of $255.11 million. Grupo Aeroportuario del Centro Norte had a net margin of 31.69% and a return on equity of 49.38%. As a group, research analysts predict that Grupo Aeroportuario del Centro Norte S.A.B. de C.V. will post 6.82 EPS for the current year.

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Institutional investors have recently bought and sold shares of the business. Sage Investment Counsel LLC boosted its position in Grupo Aeroportuario del Centro Norte by 4.3% during the 3rd quarter. Sage Investment Counsel LLC now owns 7,300 shares of the transportation company’s stock worth $705,000 after purchasing an additional 300 shares during the period. Gen Wealth Partners Inc acquired a new stake in Grupo Aeroportuario del Centro Norte in the 3rd quarter valued at $30,000. QRG Capital Management Inc. raised its position in Grupo Aeroportuario del Centro Norte by 15.8% in the second quarter. QRG Capital Management Inc. now owns 2,764 shares of the transportation company’s stock valued at $313,000 after purchasing an additional 378 shares during the period. Novem Group raised its position in Grupo Aeroportuario del Centro Norte by 4.9% in the third quarter. Novem Group now owns 10,183 shares of the transportation company’s stock valued at $984,000 after purchasing an additional 476 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Grupo Aeroportuario del Centro Norte during the third quarter worth about $51,000. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

About Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte, SAB. de C.V., operating under the OMA brand, is a Mexican airport infrastructure company. It develops, operates and maintains a portfolio of airports serving the central and northern regions of Mexico, including Monterrey International Airport and airports in destinations such as Acapulco, Chihuahua, Ciudad Juárez, Culiacán, Durango, Mazatlán, Reynosa, San Luis Potosí, Tampico, Torreón and Zacatecas.

OMA provides core airport services including passenger processing, aircraft landing and parking facilities, security-related infrastructure, baggage handling areas and cargo facilities.