Copa (NYSE:CPA) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a research report sent to investors on Friday.

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

Copa Trading Down 0.1 %

NYSE:CPA traded down $0.10 during mid-day trading on Friday, reaching $97.79. 168,840 shares of the company’s stock traded hands, compared to its average volume of 277,182. Copa has a 12-month low of $80.01 and a 12-month high of $114.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89. The company has a 50 day moving average price of $94.48 and a 200-day moving average price of $94.93. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 5.98, a PEG ratio of 0.60 and a beta of 1.48.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.11. The business had revenue of $819.40 million for 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%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.92 earnings per share. On average, sell-side analysts predict that Copa will post 14.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Copa in the first quarter worth approximately $4,878,000. Silvercrest Asset Management Group LLC bought a new position in Copa in the 1st quarter worth $1,005,000. Price T Rowe Associates Inc. MD lifted its position in Copa by 219.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company’s stock valued at $5,164,000 after purchasing an additional 34,027 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Copa in the first quarter worth about $3,207,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Copa by 7,848.9% in the third quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock worth $39,280,000 after buying an additional 413,322 shares during the period. 70.09% of the stock is owned by hedge funds and other 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.