Copa (NYSE:CPA) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a research note published on Saturday.

A number of other research analysts also recently weighed in on the company. Evercore ISI cut 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, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. TD Cowen reduced their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered their target price 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. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Copa currently has a consensus rating of “Buy” and an average price target of $148.83.

Copa Trading Down 1.2 %

Copa stock opened at $102.56 on Friday. Copa has a one year low of $80.01 and a one year high of $114.00. The company’s fifty day moving average price is $95.65 and its two-hundred day moving average price is $94.99. 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 market capitalization of $4.04 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 0.64 and a beta of 1.48.

Hedge Funds Weigh In On Copa

Several large investors have recently bought and sold shares of CPA. Barclays PLC raised its position in shares of Copa by 44.2% during the third quarter. Barclays PLC now owns 24,721 shares of the transportation company’s stock valued at $2,319,000 after buying an additional 7,576 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Copa during the third quarter worth about $9,764,000. Two Sigma Advisers LP increased its stake in Copa by 250.1% during the third quarter. Two Sigma Advisers LP now owns 128,505 shares of the transportation company’s stock valued at $12,059,000 after acquiring an additional 91,805 shares during the period. Quantinno Capital Management LP lifted its position in shares of Copa by 10.3% in the 3rd quarter. Quantinno Capital Management LP now owns 5,219 shares of the transportation company’s stock worth $490,000 after acquiring an additional 488 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Copa in the 3rd quarter worth approximately $14,094,000. 70.09% of the stock is currently owned by institutional investors and hedge funds.

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.