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

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

Several other research firms have also recently commented on CPA. Raymond James increased their target price on Copa from $165.00 to $168.00 and gave the company a “strong-buy” rating in a research note on Friday, May 17th. Evercore ISI raised their price objective on Copa from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. Morgan Stanley began coverage on Copa in a research note on Friday, May 24th. They set an “overweight” rating and a $140.00 price objective on the stock. Finally, TD Cowen reduced their price objective on Copa from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $154.67.

Copa Stock Performance

Copa stock opened at $95.25 on Wednesday. The stock has a market cap of $3.75 billion, a P/E ratio of 6.85, a price-to-earnings-growth ratio of 0.21 and a beta of 1.48. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $99.86 and a 200-day moving average of $100.18. Copa has a 52 week low of $78.12 and a 52 week high of $121.20.

Copa (NYSE:CPA) last released its earnings results on Wednesday, May 15th. The transportation company reported $4.19 EPS for the quarter, beating the consensus estimate of $3.27 by $0.92. The company had revenue of $893.47 million during the quarter, compared to analysts’ expectations of $866.73 million. Copa had a return on equity of 36.59% and a net margin of 16.42%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.99 EPS. On average, analysts expect that Copa will post 16.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Copa

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors lifted its stake in Copa by 3.7% in the first quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock valued at $423,781,000 after buying an additional 144,806 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Copa by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 2,958,237 shares of the transportation company’s stock valued at $263,638,000 after buying an additional 68,592 shares during the last quarter. Sprucegrove Investment Management Ltd. lifted its stake in Copa by 2.7% in the fourth quarter. Sprucegrove Investment Management Ltd. now owns 2,661,539 shares of the transportation company’s stock valued at $282,948,000 after buying an additional 70,300 shares during the last quarter. FMR LLC lifted its stake in Copa by 16.8% in the third quarter. FMR LLC now owns 2,401,935 shares of the transportation company’s stock valued at $214,060,000 after buying an additional 345,757 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Copa by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 687,771 shares of the transportation company’s stock valued at $73,119,000 after buying an additional 38,326 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.