Corporacion America Airports (NYSE:CAAP) Price Target Raised to $24.50

Key Points

• JPMorgan Chase & Co. has raised the price target for Corporacion America Airports (NYSE:CAAP) to $24.50, indicating a 25.93% potential upside from its previous close.
• Bank of America has initiated coverage on the stock with a "buy" rating and a price objective of $24.70, reflecting a generally positive sentiment among analysts.
• In its last quarterly earnings report, Corporacion America Airports reported a missed EPS estimate of $0.30 compared to the consensus of $0.47, but exceeded revenue expectations with $476.80 million.

Corporacion America Airports (NYSE:CAAP - Get Free Report) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $24.00 to $24.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 25.93% from the company's previous close.

Several other equities research analysts also recently commented on the company. Bank of America began coverage on Corporacion America Airports in a report on Thursday, May 22nd. They issued a "buy" rating and a $24.70 price objective for the company. Wall Street Zen upgraded Corporacion America Airports from a "hold" rating to a "buy" rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Corporacion America Airports has a consensus rating of "Buy" and an average target price of $23.20.

Corporacion America Airports Price Performance

NYSE CAAP opened at $19.46 on Tuesday. Corporacion America Airports has a one year low of $15.01 and a one year high of $22.85. The stock has a 50-day moving average of $20.45 and a 200 day moving average of $19.73. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.64 and a beta of 1.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.47 and a current ratio of 1.49.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.17). Corporacion America Airports had a return on equity of 9.06% and a net margin of 7.53%.The business had revenue of $476.80 million during the quarter, compared to the consensus estimate of $423.15 million. On average, sell-side analysts forecast that Corporacion America Airports will post 0.95 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAAP. Militia Capital Partners LP raised its holdings in shares of Corporacion America Airports by 3.3% during the 2nd quarter. Militia Capital Partners LP now owns 163,293 shares of the company's stock worth $3,308,000 after acquiring an additional 5,250 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Corporacion America Airports by 200.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 63,977 shares of the company's stock worth $1,296,000 after acquiring an additional 42,681 shares in the last quarter. PDT Partners LLC raised its holdings in shares of Corporacion America Airports by 63.8% during the 2nd quarter. PDT Partners LLC now owns 48,704 shares of the company's stock worth $987,000 after acquiring an additional 18,972 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Corporacion America Airports during the 2nd quarter worth approximately $295,000. Finally, Raymond James Financial Inc. raised its holdings in shares of Corporacion America Airports by 2.9% during the 2nd quarter. Raymond James Financial Inc. now owns 68,680 shares of the company's stock worth $1,391,000 after acquiring an additional 1,943 shares in the last quarter. 12.95% of the stock is currently owned by institutional investors.

About Corporacion America Airports

Corporación América Airports SA, through its subsidiaries, acquires, develops, and operates airport concessions. It operates 52 airports in Latin America, Europe, and Eurasia. The company was formerly known as A.C.I. Airports International S.à r.l. and changed its name to Corporación América Airports SA in September 2017.

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