Copa (NYSE:CPA) Price Target Increased to $165.00 by Analysts at Evercore ISI

Copa (NYSE:CPA) had its price target boosted by Evercore ISI from $150.00 to $165.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Copa from a buy rating to a hold rating in a research note on Monday, February 12th. TD Cowen upped their price objective on shares of Copa from $145.00 to $160.00 and gave the company a buy rating in a report on Friday. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Buy and an average target price of $156.83.

Copa Stock Down 2.9 %

Copa stock opened at $106.19 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.58. Copa has a 12-month low of $78.12 and a 12-month high of $121.20. The firm’s fifty day moving average is $102.26 and its 200 day moving average is $99.28. The company has a market capitalization of $4.19 billion, a PE ratio of 7.64, a PEG ratio of 0.35 and a beta of 1.40.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, May 15th. The transportation company reported $4.19 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.92. The business had revenue of $893.47 million during the quarter, compared to analyst estimates of $866.73 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. Copa’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.99 EPS. As a group, sell-side analysts predict that Copa will post 16.46 EPS for the current fiscal year.

Copa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.06%. The ex-dividend date is Friday, May 31st. Copa’s dividend payout ratio (DPR) is presently 46.33%.

Institutional Investors Weigh In On Copa

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sciencast Management LP increased its position in shares of Copa by 4.0% in the first quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock worth $274,000 after purchasing an additional 100 shares during the last quarter. Hexagon Capital Partners LLC grew its position in Copa by 15.1% during the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock valued at $81,000 after acquiring an additional 102 shares during the last quarter. SPC Financial Inc. grew its position in Copa by 1.1% during the first quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock valued at $1,234,000 after acquiring an additional 130 shares during the last quarter. VELA Investment Management LLC grew its position in Copa by 1.4% during the third quarter. VELA Investment Management LLC now owns 13,959 shares of the transportation company’s stock valued at $1,244,000 after acquiring an additional 195 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its position in Copa by 11.3% during the first quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock valued at $288,000 after acquiring an additional 280 shares during the last quarter. 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 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.