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 report released on Friday morning.

Separately, UBS Group boosted their price objective on Copa from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $153.29.

Copa Stock Down 0.1 %

Shares of CPA stock opened at $90.24 on Friday. Copa has a twelve month low of $80.01 and a twelve month high of $114.00. The stock has a 50 day moving average of $91.58 and a 200 day moving average of $92.26. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. The firm had revenue of $854.71 million during the quarter, compared to analysts’ expectations of $864.90 million. Copa had a net margin of 18.20% and a return on equity of 28.46%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.39 EPS. On average, equities research analysts expect that Copa will post 14.44 EPS for the current fiscal year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 7.14%. The ex-dividend date was Monday, December 2nd. Copa’s dividend payout ratio (DPR) is presently 42.59%.

Hedge Funds Weigh In On Copa

Hedge funds have recently made changes to their positions in the company. Coronation Fund Managers Ltd. grew its position in Copa by 60.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 4,430 shares of the transportation company’s stock worth $422,000 after purchasing an additional 1,667 shares during the last quarter. Bank of New York Mellon Corp grew its position in Copa by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,336 shares of the transportation company’s stock worth $413,000 after purchasing an additional 569 shares during the last quarter. Rhumbline Advisers grew its position in Copa by 69,000.0% during the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after purchasing an additional 1,380 shares during the last quarter. Dimensional Fund Advisors LP grew its position in 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 last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Copa by 39.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,340 shares of the transportation company’s stock worth $508,000 after purchasing an additional 1,508 shares during the last quarter. Hedge funds and other 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.