Corporacion America Airports (NYSE:CAAP) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Corporacion America Airports has been downgraded from a "hold" rating to a "strong sell" by Zacks Research, reflecting a significant shift in analysts' outlook.
• Despite the downgrade, other firms have issued conflicting ratings, with Wall Street Zen upgrading the stock to "buy" and JPMorgan Chase raising the price target from $24.00 to $24.50.
• The company's recent earnings report indicated an EPS of $0.30, which was below analysts' expectations of $0.47, although revenue surpassed forecasts at $476.80 million.

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

A number of other equities analysts have also weighed in on CAAP. Wall Street Zen raised Corporacion America Airports from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Corporacion America Airports in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Corporacion America Airports from $24.00 to $24.50 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Corporacion America Airports currently has a consensus rating of "Moderate Buy" and an average target price of $23.20.

Corporacion America Airports Stock Performance

Shares of CAAP opened at $17.91 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $19.74 and a two-hundred day simple moving average of $19.71. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 0.62 and a beta of 1.44. Corporacion America Airports has a 52 week low of $15.01 and a 52 week high of $22.85.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last issued 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). The company had revenue of $476.80 million during the quarter, compared to analysts' expectations of $423.15 million. Corporacion America Airports had a return on equity of 9.06% and a net margin of 7.53%. On average, analysts expect that Corporacion America Airports will post 0.95 EPS for the current year.

Institutional Investors Weigh In On Corporacion America Airports

Several hedge funds and other institutional investors have recently modified their holdings of the business. Militia Capital Partners LP raised its holdings in shares of Corporacion America Airports by 3.3% in the second quarter. Militia Capital Partners LP now owns 163,293 shares of the company's stock worth $3,308,000 after buying an additional 5,250 shares during the period. BNP Paribas Financial Markets increased its holdings in 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 purchasing an additional 42,681 shares during the period. PDT Partners LLC increased its holdings in 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 purchasing an additional 18,972 shares during the period. Jane Street Group LLC purchased a new position in Corporacion America Airports during the 2nd quarter worth $295,000. Finally, Raymond James Financial Inc. increased its holdings in 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 purchasing an additional 1,943 shares during the period. 12.95% of the stock is currently owned by hedge funds and other 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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