Corporacion America Airports (NYSE:CAAP) Shares Gap Down - Here's Why

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.

Corporacion America Airports S.A. (NYSE:CAAP - Get Free Report) gapped down before the market opened 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.

Analyst Ratings Changes

Several research analysts have recently issued reports on CAAP shares. 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 report on Wednesday, July 2nd. Bank of America started 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 research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $23.03.

Corporacion America Airports Stock Performance

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 cap of $3.16 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 0.71 and a beta of 1.49. The stock has a fifty day simple moving average of $20.58 and a two-hundred day simple moving average of $19.69.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $423.15 million. Analysts expect that Corporacion America Airports S.A. will post 0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Corporacion America Airports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted 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 purchasing an additional 1,726 shares during the period. Bank of America Corp DE boosted its stake in shares of 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 valued at $251,000 after buying an additional 836 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 worth $15,886,000 after buying an additional 448,298 shares during the period. Millennium Management LLC boosted its stake in Corporacion America Airports by 899.4% during the fourth quarter. Millennium Management LLC now owns 220,076 shares of the company's stock valued at $4,107,000 after buying an additional 198,056 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Corporacion America Airports by 48.3% during the 4th quarter. Royal Bank of Canada now owns 887,485 shares of the company's stock worth $16,561,000 after acquiring an additional 288,948 shares during the period. 12.95% of the stock is 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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