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 report issued on Monday morning.

Other analysts have also issued research reports about the stock. Evercore ISI decreased their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen cut their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $148.83.

Copa Trading Up 0.5 %

NYSE CPA opened at $93.35 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. Copa has a 52 week low of $80.01 and a 52 week high of $114.00. The business has a 50 day moving average price of $97.19 and a 200-day moving average price of $94.80. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 0.74 and a beta of 1.48.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend is Monday, December 2nd. Copa’s payout ratio is 42.59%.

Hedge Funds Weigh In On Copa

Several hedge funds have recently modified their holdings of the company. Sprucegrove Investment Management Ltd. increased its position in shares of Copa by 8.3% during 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 acquiring an additional 236,850 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Copa by 1.9% during the 2nd quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock valued at $82,990,000 after purchasing an additional 16,100 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Copa by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock worth $78,950,000 after purchasing an additional 65,525 shares during the period. Carrhae Capital LLP purchased a new position in shares of Copa in the 3rd quarter worth about $52,166,000. Finally, Marathon Asset Management Ltd grew its position in Copa by 1.7% during the third quarter. Marathon Asset Management Ltd now owns 514,679 shares of the transportation company’s stock valued at $48,297,000 after buying an additional 8,524 shares during the period. 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 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.