Corporacion America Airports (NYSE:CAAP) Shares Gap Down - Should You Sell?

Key Points

• Corporacion America Airports shares gapped down from a previous close of $21.43 to open at $19.69, with the stock last trading at $19.71.
• Analysts have a consensus rating of "Buy" with an average target price of $23.03, after upgrades from firms like JPMorgan and Bank of America.
• The company reported a 0.30 EPS for the last quarter, missing estimates by $0.17, despite higher revenue of $476.80 million compared to the consensus estimate.

Shares of Corporacion America Airports S.A. (NYSE:CAAP - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $21.43, but opened at $19.69. Corporacion America Airports shares last traded at $19.71, with a volume of 200,557 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on CAAP shares. Wall Street Zen raised shares of Corporacion America Airports from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. upped their price target on shares of Corporacion America Airports from $22.50 to $24.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Finally, Bank of America initiated coverage on shares of Corporacion America Airports in a research report on Thursday, May 22nd. They set a "buy" rating and a $24.70 price target on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $23.03.

Corporacion America Airports Price Performance

The company has a market capitalization of $3.16 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 0.66 and a beta of 1.49. The company's 50-day moving average price is $20.48 and its two-hundred day moving average price is $19.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.47.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last released its quarterly earnings results 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 net margin of 7.53% and a return on equity of 9.06%. The business had revenue of $476.80 million during the quarter, compared to analyst estimates of $423.15 million. As a group, sell-side analysts expect that Corporacion America Airports S.A. will post 0.95 EPS for the current year.

Hedge Funds Weigh In On Corporacion America Airports

Several institutional investors and hedge funds have recently modified their holdings of CAAP. BNP Paribas Financial Markets grew its stake in shares of Corporacion America Airports by 125.4% in the fourth quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company's stock valued at $58,000 after acquiring an additional 1,726 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Corporacion America Airports by 6.6% in the fourth quarter. Bank of America Corp DE now owns 13,437 shares of the company's stock valued at $251,000 after acquiring an additional 836 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Corporacion America Airports by 111.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 851,325 shares of the company's stock valued at $15,886,000 after acquiring an additional 448,298 shares in the last quarter. Millennium Management LLC grew its stake in shares of Corporacion America Airports by 899.4% in the fourth quarter. Millennium Management LLC now owns 220,076 shares of the company's stock valued at $4,107,000 after acquiring an additional 198,056 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Corporacion America Airports by 48.3% in the fourth quarter. Royal Bank of Canada now owns 887,485 shares of the company's stock valued at $16,561,000 after acquiring an additional 288,948 shares in the last quarter. 12.95% of the stock is currently owned by institutional investors and hedge funds.

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.