Royal Bank of Canada Decreases Position in Corporacion America Airports S.A. $CAAP

Key Points

• Royal Bank of Canada has reduced its stake in Corporacion America Airports S.A. by 5.2%, now holding approximately 841,600 shares valued at about $15.4 million.
• Recent analyst ratings for CAAP include a "buy" rating from Bank of America with a target price of $24.70, while JPMorgan Chase & Co. raised their target price from $22.50 to $24.00.
• Despite missing earnings estimates for the quarter, Corporacion America Airports reported revenue of $476.8 million, exceeding expectations of $423.15 million.

Royal Bank of Canada lessened its holdings in shares of Corporacion America Airports S.A. (NYSE:CAAP - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 841,600 shares of the company's stock after selling 45,885 shares during the period. Royal Bank of Canada owned approximately 0.52% of Corporacion America Airports worth $15,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Corporacion America Airports during the 1st quarter valued at $50,000. BNP Paribas Financial Markets increased 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 valued at $58,000 after acquiring an additional 1,726 shares during the period. State of Wyoming increased its position in shares of Corporacion America Airports by 199.0% in the 1st quarter. State of Wyoming now owns 9,002 shares of the company's stock valued at $165,000 after acquiring an additional 5,991 shares during the period. Bank of America Corp DE increased 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 valued at $251,000 after acquiring an additional 836 shares during the period. Finally, Trek Financial LLC acquired a new position in shares of Corporacion America Airports in the 1st quarter valued at $333,000. Hedge funds and other institutional investors own 12.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAAP. Bank of America began coverage on Corporacion America Airports in a research report on Thursday, May 22nd. They issued a "buy" rating and a $24.70 target price on the stock. JPMorgan Chase & Co. upped their target price on Corporacion America Airports from $22.50 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $23.03.

Corporacion America Airports Price Performance

Shares of CAAP opened at $20.09 on Thursday. The business's 50-day moving average is $20.52 and its two-hundred day moving average is $19.69. The company has a market capitalization of $3.28 billion, a P/E ratio of 23.64, a P/E/G ratio of 0.63 and a beta of 1.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.47 and a current ratio of 1.49. Corporacion America Airports S.A. has a fifty-two week low of $14.80 and a fifty-two week high of $22.85.

Corporacion America Airports (NYSE:CAAP - Get Free Report) last announced 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 company had revenue of $476.80 million for the quarter, compared to analyst estimates of $423.15 million. Corporacion America Airports had a return on equity of 9.06% and a net margin of 7.53%. Research analysts predict that Corporacion America Airports S.A. will post 0.95 earnings per share for the current year.

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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