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 - Free Report) had its price target hoisted by JPMorgan Chase & Co. from $24.00 to $24.50 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Corporacion America Airports from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Bank of America initiated coverage on shares of Corporacion America Airports in a report on Thursday, May 22nd. They issued a "buy" rating and a $24.70 price objective for the company. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $23.20.

Corporacion America Airports Trading Down 1.7%

NYSE:CAAP traded down $0.31 during midday trading on Tuesday, reaching $17.99. 319,980 shares of the stock traded hands, compared to its average volume of 228,415. The company has a fifty day moving average of $20.34 and a 200 day moving average of $19.72. Corporacion America Airports has a 12 month low of $15.01 and a 12 month high of $22.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.47 and a current ratio of 1.49. The stock has a market capitalization of $2.94 billion, a P/E ratio of 21.16, a PEG ratio of 0.63 and a beta of 1.49.

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

Hedge Funds Weigh In On Corporacion America Airports

Several institutional investors have recently made changes to their positions in CAAP. Quantbot Technologies LP bought a new position in shares of Corporacion America Airports in the 1st quarter worth approximately $50,000. BNP Paribas Financial Markets lifted its stake in shares of Corporacion America Airports by 125.4% in the 4th quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company's stock worth $58,000 after purchasing an additional 1,726 shares during the period. State of Wyoming lifted its stake in shares of Corporacion America Airports by 199.0% in the 1st quarter. State of Wyoming now owns 9,002 shares of the company's stock worth $165,000 after purchasing an additional 5,991 shares during the period. Inceptionr LLC bought a new position in shares of Corporacion America Airports in the 2nd quarter worth approximately $215,000. Finally, Bank of America Corp DE raised its stake in Corporacion America Airports by 6.6% during the 4th quarter. Bank of America Corp DE now owns 13,437 shares of the company's stock worth $251,000 after acquiring an additional 836 shares during the period. Institutional investors own 12.95% of the company's stock.

Corporacion America Airports Company Profile

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.