Copa Holdings, S.A. (NYSE:CPA) Position Lifted by Rhumbline Advisers

Rhumbline Advisers raised its stake in Copa Holdings, S.A. (NYSE:CPA) by 69,000.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,382 shares of the transportation company’s stock after acquiring an additional 1,380 shares during the period. Rhumbline Advisers’ holdings in Copa were worth $132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CPA. Capital World Investors increased its holdings in Copa by 5.9% in the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock valued at $417,134,000 after buying an additional 218,236 shares during the last quarter. Raymond James & Associates grew its position in shares of Copa by 61.4% in the 2nd quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock worth $28,050,000 after acquiring an additional 112,143 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Copa by 34.8% in the 1st quarter. Sei Investments Co. now owns 346,078 shares of the transportation company’s stock valued at $36,047,000 after acquiring an additional 89,354 shares during the last quarter. Invenomic Capital Management LP raised its position in shares of Copa by 90.5% during the 4th quarter. Invenomic Capital Management LP now owns 116,800 shares of the transportation company’s stock valued at $12,417,000 after acquiring an additional 55,492 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Copa during the first quarter worth $4,878,000. Institutional investors own 70.09% of the company’s stock.

Analyst Upgrades and Downgrades

CPA has been the topic of a number of recent research reports. TD Cowen reduced their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock 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 dropped their price target on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Finally, StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $148.83.

Copa Stock Up 1.7 %

Shares of CPA stock opened at $95.43 on Monday. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. The stock’s 50 day simple moving average is $89.46 and its 200 day simple moving average is $95.78. Copa Holdings, S.A. has a twelve month low of $78.12 and a twelve month high of $114.00.

Copa (NYSE:CPA) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.11. Copa had a net margin of 19.31% and a return on equity of 30.81%. The business had revenue of $819.40 million during the quarter, compared to the consensus estimate of $838.13 million. During the same period in the prior year, the firm earned $3.92 EPS. Copa’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Copa Holdings, S.A. will post 14.53 EPS for the current year.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $1.61 dividend. The ex-dividend date was Friday, August 30th. This represents a $6.44 annualized dividend and a yield of 6.75%. Copa’s dividend payout ratio is 46.33%.

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.