Copa (NYSE:CPA) Price Target Lowered to $130.00 at TD Cowen

Copa (NYSE:CPA) had its price objective lowered by TD Cowen from $145.00 to $130.00 in a research note published on Friday morning, MarketBeat.com reports. TD Cowen currently has a buy rating on the transportation company’s stock.

A number of other analysts also recently issued reports on the company. Evercore ISI reduced their price objective on Copa from $165.00 to $150.00 and set an outperform rating on the stock in a research note on Thursday. Morgan Stanley assumed coverage on shares of Copa in a research note on Friday, May 24th. They set an overweight rating and a $140.00 price target on the stock. Raymond James lifted their price objective on shares of Copa from $165.00 to $168.00 and gave the stock a strong-buy rating in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Copa from $145.00 to $130.00 and set a buy rating on the stock in a research report on Thursday. Finally, StockNews.com lowered Copa from a buy rating to a hold rating in a research report on Wednesday, June 19th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Buy and an average price target of $148.00.

Copa Price Performance

Shares of NYSE:CPA traded up $0.63 during midday trading on Friday, reaching $88.12. 338,882 shares of the company were exchanged, compared to its average volume of 279,312. The stock has a market cap of $3.47 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 0.42 and a beta of 1.47. The business’s fifty day moving average is $92.93 and its two-hundred day moving average is $98.07. Copa has a one year low of $78.12 and a one year high of $114.00. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58.

Copa (NYSE:CPA) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.77 by $0.11. The business had revenue of $819.40 million during the quarter, compared to the consensus estimate of $838.13 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.92 EPS. As a group, analysts predict that Copa will post 16.24 earnings per share for the current year.

Copa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $1.61 per share. The ex-dividend date is Friday, August 30th. This represents a $6.44 annualized dividend and a yield of 7.31%. Copa’s payout ratio is 46.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CPA. Sciencast Management LP grew its position in Copa by 4.0% in the 1st quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock valued at $274,000 after acquiring an additional 100 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Copa by 15.1% in the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after purchasing an additional 102 shares during the last quarter. SPC Financial Inc. increased its stake in 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 buying an additional 130 shares during the period. Coronation Fund Managers Ltd. lifted its holdings in Copa by 11.3% during the 1st quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock valued at $288,000 after buying an additional 280 shares in the last quarter. Finally, Carson Advisory Inc. grew its stake in Copa by 9.1% in the 2nd quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company’s stock worth $352,000 after acquiring an additional 308 shares in the last quarter. Institutional investors 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 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.