Corporacion America Airports (NYSE:CAAP) Rating Increased to Buy at Wall Street Zen

Key Points

• Corporacion America Airports has been upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen, indicating increased confidence in the stock.
• JPMorgan Chase & Co. raised their price objective for the stock from $22.50 to $24.00, contributing to a consensus buy rating with a price target of $23.03.
• The company reported a quarterly earnings miss with $0.30 per share against an estimated $0.47, although it exceeded revenue expectations at $476.80 million.

Wall Street Zen upgraded shares of Corporacion America Airports (NYSE:CAAP - Free Report) from a hold rating to a buy rating in a report issued on Saturday morning.

Other equities research analysts have also issued reports about the company. Bank of America initiated coverage on Corporacion America Airports in a research note on Thursday, May 22nd. They issued a "buy" rating and a $24.70 price objective for the company. JPMorgan Chase & Co. raised their price target on Corporacion America Airports from $22.50 to $24.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Corporacion America Airports has an average rating of "Buy" and a consensus target price of $23.20.

Corporacion America Airports Stock Performance

CAAP traded down $0.50 during midday trading on Friday, reaching $18.30. The company had a trading volume of 352,269 shares, compared to its average volume of 224,431. 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 moving average of $20.37 and a two-hundred day moving average of $19.72. The company has a market cap of $2.99 billion, a P/E ratio of 21.53, a P/E/G ratio of 0.64 and a beta of 1.49. Corporacion America Airports has a 1 year low of $15.01 and a 1 year high of $22.85.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.17). The firm had revenue of $476.80 million for the quarter, compared to analysts' expectations of $423.15 million. Corporacion America Airports had a net margin of 7.53% and a return on equity of 9.06%. As a group, equities research analysts predict that Corporacion America Airports will post 0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Militia Capital Partners LP raised its position in shares of 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 acquiring an additional 5,250 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of 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 acquiring an additional 42,681 shares in the last quarter. PDT Partners LLC raised its position in shares of 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 acquiring an additional 18,972 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Corporacion America Airports in the 2nd quarter worth $295,000. Finally, Raymond James Financial Inc. grew its stake 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 buying an additional 1,943 shares during the last quarter. 12.95% of the stock is owned by 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.