Copa (NYSE:CPA) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Copa (NYSE:CPA) from a hold rating to a buy rating in a report issued on Thursday.

A number of other equities analysts have also recently commented on CPA. Evercore ISI lowered their price target on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. TD Cowen reduced 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 Friday, August 9th. Finally, 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 report on Thursday, August 8th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Copa has a consensus rating of “Buy” and an average price target of $148.83.

Copa Trading Up 0.3 %

Shares of Copa stock opened at $97.63 on Thursday. The firm’s 50-day moving average price is $93.85 and its two-hundred day moving average price is $95.01. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 0.62 and a beta of 1.49. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. Copa has a 12-month low of $80.01 and a 12-month high of $114.00.

Copa (NYSE:CPA) last announced its quarterly earnings data 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. Copa had a net margin of 19.31% and a return on equity of 30.81%. The business had revenue of $819.40 million for the quarter, compared to analysts’ expectations of $838.13 million. During the same period last year, the firm posted $3.92 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts forecast that Copa will post 14.62 earnings per share for the current fiscal year.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.60%. The ex-dividend date was Friday, August 30th. Copa’s payout ratio is presently 39.41%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. CWA Asset Management Group LLC bought a new position in shares of Copa in the 3rd quarter worth about $611,000. VELA Investment Management LLC raised its position in shares of Copa by 14.1% in the 3rd quarter. VELA Investment Management LLC now owns 32,371 shares of the transportation company’s stock worth $3,038,000 after acquiring an additional 3,995 shares in the last quarter. Oldfield Partners LLP raised its position in shares of Copa by 6.9% in the 3rd quarter. Oldfield Partners LLP now owns 13,900 shares of the transportation company’s stock worth $1,304,000 after acquiring an additional 900 shares in the last quarter. Carrhae Capital LLP bought a new position in shares of Copa in the 3rd quarter worth about $52,166,000. Finally, Raymond James & Associates raised its position in shares of Copa by 20.3% in the 3rd quarter. Raymond James & Associates now owns 354,483 shares of the transportation company’s stock worth $33,265,000 after acquiring an additional 59,773 shares in the last quarter. 70.09% of the stock is owned by institutional investors.

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.