Copa (NYSE:CPA) Downgraded by StockNews.com

StockNews.com downgraded shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a report released on Wednesday.

A number of other analysts also recently weighed in on the stock. Raymond James increased their target price on shares of Copa from $165.00 to $168.00 and gave the company a strong-buy rating in a research report on Friday, May 17th. TD Cowen cut their price target on Copa from $160.00 to $145.00 and set a buy rating on the stock in a report on Tuesday. Morgan Stanley began coverage on Copa in a report on Friday, May 24th. They set an overweight rating and a $140.00 price target on the stock. Finally, Evercore ISI increased their price target on Copa from $150.00 to $165.00 and gave the stock an outperform rating in a report on Friday, May 17th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $154.67.

Copa Stock Performance

Copa stock opened at $94.09 on Wednesday. The business has a 50 day moving average of $99.81 and a 200-day moving average of $100.18. Copa has a 1 year low of $78.12 and a 1 year high of $121.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.90. The company has a market capitalization of $3.71 billion, a P/E ratio of 6.77, a P/E/G ratio of 0.21 and a beta of 1.48.

Copa (NYSE:CPA) last released its earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share 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 the consensus estimate of $866.73 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.99 EPS. On average, equities research analysts predict that Copa will post 16.66 earnings per share for the current year.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date was Friday, May 31st. Copa’s dividend payout ratio is currently 46.33%.

Hedge Funds Weigh In On Copa

A number of large investors have recently modified their holdings of the company. Sciencast Management LP lifted its holdings in shares of Copa by 4.0% in the 1st quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock worth $274,000 after purchasing an additional 100 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Copa by 15.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after purchasing an additional 102 shares in the last quarter. SPC Financial Inc. lifted its holdings in shares of Copa by 1.1% in the 1st quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock worth $1,234,000 after purchasing an additional 130 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Copa by 11.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock worth $288,000 after purchasing an additional 280 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Copa by 34,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock worth $37,000 after purchasing an additional 343 shares in the last quarter. 70.09% of the stock is currently owned by 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.