Copa (NYSE:CPA) Lowered to “Hold” Rating by StockNews.com

Copa (NYSE:CPA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other research firms have also weighed in on CPA. Deutsche Bank Aktiengesellschaft lowered their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Evercore ISI dropped their target price 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. JPMorgan Chase & Co. reduced their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Finally, TD Cowen dropped 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. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $148.83.

Copa Stock Up 0.1 %

CPA stock opened at $97.93 on Friday. 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 company’s 50-day moving average price is $94.33 and its 200 day moving average price is $94.96. Copa has a 52 week low of $80.01 and a 52 week high of $114.00. The company has a market cap of $3.86 billion, a P/E ratio of 5.99, a P/E/G ratio of 0.60 and a beta of 1.48.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $838.13 million. During the same quarter in the previous year, the company earned $3.92 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts expect that Copa will post 14.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Copa

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hexagon Capital Partners LLC grew its stake in Copa by 14.9% in the 2nd quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock worth $85,000 after acquiring an additional 116 shares during the period. Rhumbline Advisers increased its stake in Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,380 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in Copa during the first quarter worth about $215,000. Mackenzie Financial Corp boosted its stake in Copa by 29.3% in the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock worth $256,000 after buying an additional 610 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in Copa in the 2nd quarter worth about $268,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

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.