Copa (NYSE:CPA) Cut to “Hold” at StockNews.com

Copa (NYSE:CPA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other brokerages have also issued reports on CPA. JPMorgan Chase & Co. cut their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. TD Cowen lowered their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI reduced their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $148.83.

Copa Trading Up 1.6 %

Shares of CPA stock traded up $1.60 on Wednesday, hitting $100.72. 252,631 shares of the company’s stock traded hands, compared to its average volume of 279,829. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. Copa has a one year low of $78.12 and a one year high of $114.00. The company’s fifty day simple moving average is $92.33 and its 200 day simple moving average is $95.01. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 7.25, a P/E/G ratio of 0.59 and a beta of 1.49.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.11. The company had revenue of $819.40 million during the quarter, compared to analysts’ expectations of $838.13 million. Copa had a net margin of 19.31% and a return on equity of 30.81%. Copa’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $3.92 EPS. Equities analysts forecast that Copa will post 14.56 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Copa in the first quarter valued at approximately $4,878,000. Deltec Asset Management LLC increased its position in Copa by 38.9% during the 1st quarter. Deltec Asset Management LLC now owns 116,071 shares of the transportation company’s stock worth $12,090,000 after purchasing an additional 32,526 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in Copa during the 1st quarter worth about $1,005,000. Price T Rowe Associates Inc. MD grew its holdings in Copa by 219.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company’s stock valued at $5,164,000 after buying an additional 34,027 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Copa in the 1st quarter valued at about $3,207,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.