JPMorgan Chase & Co. Lowers Corporacion America Airports (NYSE:CAAP) Price Target to $32.00

Key Points

• JPMorgan lowered Corporacion America Airports’ price target from $33 to $32 while maintaining an “overweight” rating, implying approximately 35% upside from the prior close.
• Analyst sentiment remains favorable overall, with four Buy and two Hold ratings producing a consensus “Moderate Buy” rating and an average target price of $29.88.
• CAAP shares closed at $23.70, while the company’s latest quarterly earnings missed expectations on EPS ($0.32 versus $0.50) but exceeded revenue estimates with $534.04 million in sales.

Corporacion America Airports (NYSE:CAAP - Get Free Report) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $33.00 to $32.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 35.02% from the company's previous close.

Several other research analysts also recently issued reports on the stock. Zacks Research upgraded shares of Corporacion America Airports from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen downgraded Corporacion America Airports from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Corporacion America Airports in a research report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $29.88.

Corporacion America Airports Price Performance

Shares of Corporacion America Airports stock traded down $0.22 during midday trading on Friday, hitting $23.70. 41,274 shares of the company traded hands, compared to its average volume of 236,921. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.64 and a beta of 0.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 1.51. The firm's fifty day moving average price is $24.68 and its 200-day moving average price is $25.31. Corporacion America Airports has a 12 month low of $17.36 and a 12 month high of $30.50.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.32 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 the consensus estimate of $497.52 million. As a group, sell-side analysts forecast that Corporacion America Airports will post 2.2 earnings per share for the current year.

Hedge Funds Weigh In On Corporacion America Airports

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi bought a new position in Corporacion America Airports during the 2nd quarter worth approximately $216,000. Empowered Funds LLC bought a new stake in shares of Corporacion America Airports in the 2nd quarter valued at $7,744,000. Pillsbury Lake Capital LLC bought a new stake in shares of Corporacion America Airports in the 2nd quarter valued at $7,429,989. Bank of America Corp DE acquired a new stake in shares of Corporacion America Airports during the second quarter worth $769,000. Finally, Invst LLC acquired a new stake in shares of Corporacion America Airports during the second quarter worth $255,000. 12.95% of the stock is owned by institutional investors and hedge funds.

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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