Corporacion America Airports (NYSE:CAAP) Shares Climb 5.7% – Here’s What Happened

by · The Cerbat Gem

Corporacion America Airports S.A. (NYSE:CAAP – Get Free Report)’s stock price shot up 5.7% during mid-day trading on Monday. The stock traded as high as $25.50 and last traded at $25.2380. 105,867 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 234,706 shares. The stock had previously closed at $23.88.

Analyst Upgrades and Downgrades

Several brokerages have commented on CAAP. Weiss Ratings restated a “buy (b)” rating on shares of Corporacion America Airports in a research report on Monday, September 21st. JPMorgan Chase & Co. cut their price target on shares of Corporacion America Airports from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Friday, September 18th. Wall Street Zen cut shares of Corporacion America Airports from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Zacks Research downgraded shares of Corporacion America Airports from a “hold” rating to a “strong sell” rating in a report on Monday, September 21st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Corporacion America Airports has an average rating of “Moderate Buy” and an average target price of $29.88.

Get Our Latest Research Report on CAAP

Corporacion America Airports Stock Up 8.7%

The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average price of $24.55 and a 200-day moving average price of $25.20. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 0.70 and a beta of 0.69.

Corporacion America Airports (NYSE:CAAP – Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.18). Corporacion America Airports had a net margin of 13.58% and a return on equity of 16.69%. The business had revenue of $534.04 million during the quarter, compared to analyst estimates of $497.52 million. On average, equities analysts forecast that Corporacion America Airports S.A. will post 2.04 EPS for the current year.

Corporacion America Airports Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 31st were given a $0.91 dividend. The ex-dividend date was Monday, August 31st. Corporacion America Airports’s dividend payout ratio is currently 51.12%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Amundi acquired a new position in shares of Corporacion America Airports during the 2nd quarter worth approximately $216,000. Empowered Funds LLC acquired a new stake in Corporacion America Airports during the 2nd quarter valued at $7,744,000. Pillsbury Lake Capital LLC purchased a new position in Corporacion America Airports during the second quarter worth $7,429,989. Bank of America Corp DE purchased a new position in Corporacion America Airports during the second quarter worth $769,000. Finally, Invst LLC purchased a new position in Corporacion America Airports during the second quarter worth $255,000. 12.95% of the stock is currently owned by institutional investors and hedge funds.

About Corporacion America Airports

(Get Free Report)

Corporación América Airports SA (NYSE: CAAP) is a private airport operator that develops, manages and operates airport concessions and related aviation infrastructure. Its activities include passenger terminal operations, airfield and runway management, cargo services, retail and commercial concessions, parking, and other services connected with airport facilities.

The company operates a geographically diversified portfolio of airports through long-term concession agreements and other operating arrangements.

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