Copa (NYSE:CPA) Lifted to “Buy” at StockNews.com

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

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped 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. Evercore ISI cut their price target on Copa from $165.00 to $150.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. TD Cowen lowered 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Copa from $145.00 to $130.00 and set a buy rating on the stock in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $148.83.

Copa Trading Up 1.0 %

NYSE:CPA opened at $94.56 on Tuesday. Copa has a 12-month low of $78.12 and a 12-month high of $114.00. The firm has a market cap of $3.73 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average price of $89.48 and a 200 day moving average price of $95.62.

Copa (NYSE:CPA) last announced its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.11. Copa had a return on equity of 30.81% and a net margin of 19.31%. The business had revenue of $819.40 million during the quarter, compared to analysts’ expectations of $838.13 million. During the same quarter last year, the business posted $3.92 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Copa will post 14.53 earnings per share for the current fiscal year.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $1.61 dividend. The ex-dividend date was Friday, August 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.81%. Copa’s dividend payout ratio (DPR) is presently 46.33%.

Institutional Investors Weigh In On Copa

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda increased its holdings in shares of Copa by 16.4% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 417,764 shares of the transportation company’s stock valued at $39,763,000 after acquiring an additional 58,846 shares during the period. Shellback Capital LP grew its position in Copa by 13.9% during the 2nd quarter. Shellback Capital LP now owns 440,000 shares of the transportation company’s stock worth $41,879,000 after purchasing an additional 53,806 shares during the last quarter. Mackenzie Financial Corp increased its stake in Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 610 shares during the period. Marathon Capital Management boosted its stake in shares of Copa by 11.8% during the second quarter. Marathon Capital Management now owns 69,503 shares of the transportation company’s stock worth $6,615,000 after buying an additional 7,310 shares during the period. Finally, Appian Way Asset Management LP grew its holdings in shares of Copa by 84.3% during the second quarter. Appian Way Asset Management LP now owns 19,168 shares of the transportation company’s stock worth $1,824,000 after buying an additional 8,768 shares during the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

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.