Corporacion America Airports (NYSE:CAAP) Trading 7.9% Higher - Here's Why

Key Points

• Corporacion America Airports' stock increased by 7.9% during mid-day trading, reaching a high of $20.44, despite a 25% drop in trading volume from the average.
• Analysts have raised their price targets for the company's stock, with JPMorgan Chase setting a new target of $24.00 and Bank of America at $24.70, suggesting a generally positive outlook.
• The company reported a miss in earnings with $0.30 EPS against expectations of $0.47, but exceeded revenue estimates with $476.80 million for the quarter.

Shares of Corporacion America Airports S.A. (NYSE:CAAP - Get Free Report) traded up 7.9% during mid-day trading on Wednesday . The company traded as high as $20.44 and last traded at $20.43. 137,228 shares changed hands during trading, a decline of 25% from the average session volume of 181,785 shares. The stock had previously closed at $18.94.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CAAP shares. JPMorgan Chase & Co. raised their price objective on Corporacion America Airports from $22.50 to $24.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Bank of America started coverage on Corporacion America Airports in a research note 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, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $23.03.

Corporacion America Airports Stock Performance

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 stock has a market capitalization of $3.28 billion, a PE ratio of 23.64, a PEG ratio of 0.63 and a beta of 1.49. The firm has a 50 day moving average price of $20.53 and a 200-day moving average price of $19.69.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAAP. Helikon Investments Ltd raised its position in shares of Corporacion America Airports by 92.3% in the first quarter. Helikon Investments Ltd now owns 13,622,399 shares of the company's stock worth $249,290,000 after acquiring an additional 6,537,641 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Corporacion America Airports by 111.2% during the 4th 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 during the period. Royal Bank of Canada increased its stake in shares of Corporacion America Airports by 48.3% in the 4th quarter. Royal Bank of Canada now owns 887,485 shares of the company's stock valued at $16,561,000 after purchasing an additional 288,948 shares in the last quarter. Millennium Management LLC raised its holdings in Corporacion America Airports by 899.4% in the 4th quarter. Millennium Management LLC now owns 220,076 shares of the company's stock worth $4,107,000 after purchasing an additional 198,056 shares during the period. Finally, Fourth Sail Capital LP boosted its position in Corporacion America Airports by 9.0% during the first quarter. Fourth Sail Capital LP now owns 1,584,784 shares of the company's stock worth $29,002,000 after purchasing an additional 130,702 shares in the last quarter. 12.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

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