Copa (NYSE:CPA) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Copa (NYSE:CPA) from a hold rating to a buy rating in a research note issued to investors on Thursday.

CPA has been the subject of several other research reports. TD Cowen dropped their price target 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. JPMorgan Chase & Co. decreased their price objective on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, 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. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Copa currently has an average rating of “Buy” and an average price target of $148.83.

Copa Stock Performance

NYSE CPA opened at $97.63 on Thursday. The stock has a fifty day simple moving average of $93.85 and a 200-day simple moving average of $95.01. 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 stock has a market cap of $3.85 billion, a PE ratio of 5.97, a P/E/G ratio of 0.61 and a beta of 1.48. Copa has a twelve month low of $80.01 and a twelve month high of $114.00.

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

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.60%. The ex-dividend date was Friday, August 30th. Copa’s payout ratio is 39.41%.

Hedge Funds Weigh In On Copa

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

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.