Corporacion America Airports (NYSE:CAAP) Trading Up 7.9% - What's Next?

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.

Corporacion America Airports S.A. (NYSE:CAAP - Get Free Report)'s stock price rose 7.9% during trading on Wednesday . The stock traded as high as $20.44 and last traded at $20.43. Approximately 137,228 shares were traded during trading, a decline of 25% from the average daily volume of 181,785 shares. The stock had previously closed at $18.94.

Wall Street Analyst Weigh In

CAAP has been the subject of several recent analyst reports. Wall Street Zen raised shares of Corporacion America Airports from a "hold" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. boosted their price objective on shares of Corporacion America Airports from $22.50 to $24.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Finally, Bank of America initiated coverage on shares of Corporacion America Airports in a research note on Thursday, May 22nd. They set a "buy" rating and a $24.70 price objective for the company. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $23.03.

Corporacion America Airports Stock Performance

The firm has a market cap of $3.14 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 0.64 and a beta of 1.49. The company has a 50 day simple moving average of $20.48 and a 200-day simple moving average of $19.72. 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 issued its earnings results on Wednesday, August 20th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.17). The firm 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%. As a group, equities research analysts anticipate that Corporacion America Airports S.A. will post 0.95 EPS for the current year.

Institutional Trading of Corporacion America Airports

Several hedge funds and other institutional investors have recently bought and sold shares of CAAP. Militia Capital Partners LP increased its stake in Corporacion America Airports by 3.3% in the 2nd quarter. Militia Capital Partners LP now owns 163,293 shares of the company's stock worth $3,308,000 after purchasing an additional 5,250 shares during the period. BNP Paribas Financial Markets increased its stake in Corporacion America Airports by 200.4% in 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 stake in Corporacion America Airports by 63.8% in 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 in the 2nd quarter worth approximately $295,000. Finally, Raymond James Financial Inc. increased its stake in Corporacion America Airports by 2.9% in 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. Hedge funds and other 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.