Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) Downgraded by Bank of America to “Underperform”

Bank of America cut shares of Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) from a buy rating to an underperform rating in a research report report published on Friday, MarketBeat.com reports. Bank of America currently has $71.50 price target on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley upgraded Grupo Aeroportuario del Centro Norte from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $82.00 to $77.00 in a report on Friday, September 6th. Scotiabank raised shares of Grupo Aeroportuario del Centro Norte from a “sector underperform” rating to a “sector perform” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.83.

Grupo Aeroportuario del Centro Norte Stock Performance

OMAB opened at $64.79 on Friday. The stock’s 50 day simple moving average is $68.05 and its 200 day simple moving average is $70.33. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $2.76 billion, a P/E ratio of 11.43, a P/E/G ratio of 3.82 and a beta of 1.31. Grupo Aeroportuario del Centro Norte has a 1-year low of $59.08 and a 1-year high of $90.53.

Grupo Aeroportuario del Centro Norte Announces Dividend

The company also recently disclosed a Thrice Yearly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $1.921 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a dividend yield of 6.5%. Grupo Aeroportuario del Centro Norte’s dividend payout ratio is currently 80.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in Grupo Aeroportuario del Centro Norte by 0.7% in the 1st quarter. Russell Investments Group Ltd. now owns 117,193 shares of the transportation company’s stock valued at $9,269,000 after buying an additional 871 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Grupo Aeroportuario del Centro Norte by 7.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 27,701 shares of the transportation company’s stock valued at $2,180,000 after purchasing an additional 1,931 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Grupo Aeroportuario del Centro Norte by 8.9% in the 1st quarter. Advisors Asset Management Inc. now owns 4,146 shares of the transportation company’s stock valued at $328,000 after purchasing an additional 340 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Grupo Aeroportuario del Centro Norte during the 1st quarter valued at approximately $202,000. Finally, SG Americas Securities LLC grew its position in shares of Grupo Aeroportuario del Centro Norte by 105.9% during the second quarter. SG Americas Securities LLC now owns 5,698 shares of the transportation company’s stock worth $385,000 after buying an additional 2,931 shares in the last quarter. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Aeroportuario del Centro Norte Company Profile

Grupo Aeroportuario del Centro Norte, SAB. de C.V., together with its subsidiaries, holds concessions to develop, operate, and maintain airports in Mexico. The company operates 13 international airports in Monterrey, Acapulco, Mazatlán, Zihuatanejo, Ciudad Juárez, Reynosa, Chihuahua, Culiacán, Durango, San Luis Potosí, Tampico, Torreón, and Zacatecas cities.