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

Copa (NYSE:CPA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

CPA has been the subject of a number of other reports. TD Cowen lowered their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Evercore ISI decreased their target price on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their target price on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $148.83.

Copa Stock Performance

NYSE CPA opened at $102.56 on Friday. The company has a market cap of $4.04 billion, a P/E ratio of 6.28, a P/E/G ratio of 0.62 and a beta of 1.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89. The stock has a 50-day moving average of $95.65 and a two-hundred day moving average of $94.99. Copa has a 1-year low of $80.01 and a 1-year high of $114.00.

Institutional Investors Weigh In On Copa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Copa by 44.2% in the third quarter. Barclays PLC now owns 24,721 shares of the transportation company’s stock valued at $2,319,000 after buying an additional 7,576 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Copa in the third quarter valued at approximately $9,764,000. Two Sigma Advisers LP lifted its stake in Copa by 250.1% in the third quarter. Two Sigma Advisers LP now owns 128,505 shares of the transportation company’s stock valued at $12,059,000 after buying an additional 91,805 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Copa by 10.3% during the third quarter. Quantinno Capital Management LP now owns 5,219 shares of the transportation company’s stock worth $490,000 after purchasing an additional 488 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Copa during the third quarter worth $14,094,000. 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.