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

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-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 trading hands.

Analysts Set New Price Targets

OMAB has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grupo Aeroportuario del Centro Norte in a research report on Monday, October 26th. Citigroup cut Grupo Aeroportuario del Centro Norte from a “buy” rating to a “neutral” rating in a report on Friday. Zacks Research downgraded shares of Grupo Aeroportuario del Centro Norte from a “hold” rating to a “strong sell” rating in a report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. upgraded Grupo Aeroportuario del Centro Norte from an “underweight” rating to a “neutral” rating in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $134.00.

Grupo Aeroportuario del Centro Norte Stock Performance

The business has a 50 day moving average price of $98.20 and a two-hundred day moving average price of $107.77. The stock has a market cap of $4.67 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.08 and a quick ratio of 1.08.

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

Institutional Investors Weigh In On Grupo Aeroportuario del Centro Norte

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sage Investment Counsel LLC increased its stake in Grupo Aeroportuario del Centro Norte by 4.3% in the third quarter. Sage Investment Counsel LLC now owns 7,300 shares of the transportation company’s stock valued at $705,000 after purchasing an additional 300 shares during the last quarter. Gen Wealth Partners Inc acquired a new position in shares of Grupo Aeroportuario del Centro Norte during the third quarter valued at $30,000. QRG Capital Management Inc. raised its position in shares of Grupo Aeroportuario del Centro Norte by 15.8% during the second quarter. QRG Capital Management Inc. now owns 2,764 shares of the transportation company’s stock worth $313,000 after purchasing an additional 378 shares during the period. Novem Group boosted its position in Grupo Aeroportuario del Centro Norte by 4.9% during the 3rd quarter. Novem Group now owns 10,183 shares of the transportation company’s stock worth $984,000 after acquiring 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 3rd quarter worth $51,000. 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., 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.