Corporacion America Airports (NYSE:CAAP) Upgraded 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.

Corporacion America Airports (NYSE:CAAP - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other research analysts also recently commented on CAAP. 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 report on Wednesday, July 2nd. Bank of America started coverage on Corporacion America Airports in a report on Thursday, May 22nd. They set a "buy" rating and a $24.70 price objective on the stock. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $23.03.

Corporacion America Airports Trading Down 3.1%

Shares of NYSE CAAP opened at $19.35 on Friday. 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 business's 50 day moving average price is $20.48 and its 200-day moving average price is $19.70. Corporacion America Airports has a fifty-two week low of $15.01 and a fifty-two week high of $22.85. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 0.66 and a beta of 1.49.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last issued 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 business 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%. On average, sell-side analysts expect that Corporacion America Airports will post 0.95 earnings per share for the current year.

Institutional Trading of Corporacion America Airports

A number of institutional investors have recently made changes to their positions in CAAP. BNP Paribas Financial Markets boosted its position in shares of Corporacion America Airports by 125.4% in the 4th quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company's stock worth $58,000 after purchasing an additional 1,726 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Corporacion America Airports by 6.6% in the 4th quarter. Bank of America Corp DE now owns 13,437 shares of the company's stock worth $251,000 after purchasing an additional 836 shares in the last quarter. Millennium Management LLC boosted its position in shares of 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 in the last quarter. Royal Bank of Canada boosted its position 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 worth $16,561,000 after purchasing an additional 288,948 shares in the last quarter. Finally, Invst LLC boosted its position in shares of Corporacion America Airports by 8.1% in the 4th quarter. Invst LLC now owns 46,618 shares of the company's stock worth $870,000 after purchasing an additional 3,494 shares in the last quarter. Institutional investors and hedge funds 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.

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