Copa Holdings, S.A. (NYSE:CPA) Shares Acquired by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. lifted its position in Copa Holdings, S.A. (NYSE:CPA) by 14.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,286 shares of the transportation company’s stock after purchasing an additional 943 shares during the quarter. Copa comprises 0.5% of Legend Financial Advisors Inc.’s holdings, making the stock its 27th largest position. Legend Financial Advisors Inc.’s holdings in Copa were worth $684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC grew its holdings in Copa by 15.1% during the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after acquiring an additional 102 shares during the period. Rhumbline Advisers lifted its holdings in Copa by 69,000.0% in the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,380 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Copa during the fourth quarter worth about $202,000. Kingsview Wealth Management LLC purchased a new position in Copa during the first quarter worth approximately $215,000. Finally, Sciencast Management LP boosted its position in shares of Copa by 4.0% during 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. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Stock Up 0.3 %

Shares of NYSE CPA opened at $102.04 on Friday. The firm’s 50 day moving average price is $91.86 and its 200 day moving average price is $95.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. Copa Holdings, S.A. has a 1 year low of $78.12 and a 1 year high of $114.00. The firm has a market cap of $4.02 billion, a P/E ratio of 7.34, a price-to-earnings-growth ratio of 0.59 and a beta of 1.49.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, topping 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 firm had revenue of $819.40 million during the quarter, compared to analysts’ expectations of $838.13 million. During the same period in the prior year, the company earned $3.92 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Copa Holdings, S.A. will post 14.56 earnings per share for the current year.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date was Friday, August 30th. Copa’s payout ratio is currently 46.33%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen cut their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. StockNews.com raised Copa from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, Evercore ISI reduced their target price on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Copa has a consensus rating of “Buy” and a consensus price target of $148.83.

Copa Company Profile

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.