Corporacion America Airports (NYSE:CAAP) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded Corporacion America Airports to “strong sell” from “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $29.88.
• CAAP shares opened at $24.06, below their 50-day and 200-day moving averages, and remain within a 52-week range of $17.36 to $30.50.
• The company’s latest quarterly results were mixed: earnings of $0.32 per share missed estimates of $0.50, while revenue of $534.04 million exceeded the $497.52 million consensus forecast.

Corporacion America Airports (NYSE:CAAP - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday, Zacks reports.

A number of other research firms have also weighed in on CAAP. Wall Street Zen lowered shares of Corporacion America Airports from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. JPMorgan Chase & Co. lowered their price target on shares of Corporacion America Airports from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Friday, September 18th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Corporacion America Airports in a research report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.88.

Corporacion America Airports Stock Performance

NYSE:CAAP opened at $24.06 on Monday. The company has a fifty day simple moving average of $24.63 and a two-hundred day simple moving average of $25.24. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 0.71 and a beta of 0.69. The company has a quick ratio of 1.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.48. Corporacion America Airports has a 52 week low of $17.36 and a 52 week high of $30.50.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.18). Corporacion America Airports had a net margin of 13.58% and a return on equity of 16.69%. The company had revenue of $534.04 million during the quarter, compared to analyst estimates of $497.52 million. As a group, equities analysts anticipate that Corporacion America Airports will post 2.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corporacion America Airports

Hedge funds have recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in Corporacion America Airports in the fourth quarter valued at about $65,000. State of Wyoming purchased a new stake in shares of Corporacion America Airports during the 2nd quarter worth approximately $72,000. Amundi acquired a new stake in shares of Corporacion America Airports in the 2nd quarter worth approximately $216,000. Invst LLC purchased a new position in Corporacion America Airports in the 2nd quarter valued at approximately $255,000. Finally, Valeo Financial Advisors LLC purchased a new position in Corporacion America Airports in the 2nd quarter valued at approximately $282,000. Hedge funds and other institutional investors own 12.95% of the company's stock.

About Corporacion America Airports

Corporación América Airports SA NYSE: CAAP is a private airport operator that develops, manages and operates airport concessions and related aviation infrastructure. Its activities include passenger terminal operations, airfield and runway management, cargo services, retail and commercial concessions, parking, and other services connected with airport facilities.

The company operates a geographically diversified portfolio of airports through long-term concession agreements and other operating arrangements.

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