StockNews.com Downgrades Copa (NYSE:CPA) to Hold

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

Several other analysts also recently issued reports on CPA. TD Cowen cut their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Evercore ISI cut their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft dropped 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. One equities research 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $148.83.

Copa Price Performance

Shares of NYSE CPA opened at $92.90 on Monday. Copa has a twelve month low of $80.01 and a twelve month high of $114.00. 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 has a market capitalization of $3.66 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.73 and a beta of 1.48. The firm has a 50-day moving average of $97.07 and a two-hundred day moving average of $94.88.

Institutional Investors Weigh In On Copa

A number of large investors have recently added to or reduced their stakes in CPA. Carrhae Capital LLP bought a new stake in Copa during the third quarter worth approximately $52,166,000. Vontobel Holding Ltd. boosted its position in shares of 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 acquiring an additional 413,322 shares during the period. Sprucegrove Investment Management Ltd. boosted its position in shares of 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 acquiring an additional 236,850 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Copa in the third quarter valued at approximately $14,094,000. Finally, Raymond James & Associates boosted its position in shares of 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 acquiring 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.