Copa (NYSE:CPA) Upgraded to “Buy” by StockNews.com

Copa (NYSE:CPA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

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

Copa Trading Down 1.4 %

Shares of CPA stock traded down $1.28 on Tuesday, hitting $92.56. 285,896 shares of the company’s stock traded hands, compared to its average volume of 274,120. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 6.66, a P/E/G ratio of 0.57 and a beta of 1.48. The company’s fifty day simple moving average is $89.44 and its 200 day simple moving average is $95.64. Copa has a one year low of $78.12 and a one year high of $114.00.

Copa (NYSE:CPA) last released its earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.11. Copa had a return on equity of 30.81% and a net margin of 19.31%. The company had revenue of $819.40 million during the quarter, compared to analyst estimates of $838.13 million. During the same quarter in the previous year, the company posted $3.92 EPS. Copa’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts forecast that Copa will post 14.53 EPS for the current year.

Institutional Investors Weigh In On Copa

Several hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC lifted its holdings in shares of Copa by 2.4% during the fourth quarter. Hsbc Holdings PLC now owns 78,135 shares of the transportation company’s stock valued at $8,321,000 after purchasing an additional 1,799 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Copa by 45.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,858 shares of the transportation company’s stock worth $198,000 after acquiring an additional 584 shares in the last quarter. TFO Wealth Partners LLC grew its stake in shares of Copa by 34,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock worth $37,000 after acquiring an additional 343 shares during the last quarter. Capital World Investors increased its holdings in shares of Copa by 5.9% during the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock valued at $417,134,000 after acquiring an additional 218,236 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in shares of Copa in the 4th quarter worth about $873,000. 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 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.