Copa (NYSE:CPA) Upgraded at StockNews.com

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

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. TD Cowen decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Evercore ISI decreased their price objective on shares of 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 assigned a strong buy rating to the company. According to MarketBeat, Copa has an average rating of “Buy” and a consensus target price of $148.83.

Copa Trading Up 0.3 %

Shares of CPA stock opened at $97.63 on Thursday. Copa has a 12-month low of $80.01 and a 12-month high of $114.00. The company has a market capitalization of $3.85 billion, a P/E ratio of 5.97, a P/E/G ratio of 0.62 and a beta of 1.49. The firm has a 50-day moving average price of $93.85 and a 200 day moving average price of $95.01. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA) last announced its 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 company had revenue of $819.40 million during the quarter, compared to the consensus estimate of $838.13 million. During the same period in the previous year, the firm posted $3.92 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Research analysts forecast that Copa will post 14.62 earnings per share for the current fiscal year.

Copa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date of this dividend was Friday, August 30th. Copa’s dividend payout ratio is presently 39.41%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CPA. Carrhae Capital LLP bought a new stake in Copa in the third quarter valued at approximately $52,166,000. Vontobel Holding Ltd. raised its stake in Copa by 7,848.9% in the third quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock valued at $39,280,000 after buying an additional 413,322 shares during the period. Sprucegrove Investment Management Ltd. raised its stake in Copa by 8.3% in the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after buying an additional 236,850 shares during the period. Capital World Investors raised its stake in Copa by 3.7% in the first quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock valued at $423,781,000 after buying an additional 144,806 shares during the period. Finally, Raymond James & Associates raised its stake in Copa by 61.4% in the second quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock valued at $28,050,000 after buying an additional 112,143 shares during the period. 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 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.