Short Interest in Copa Holdings, S.A. (NYSE:CPA) Increases By 47.2%

Copa Holdings, S.A. (NYSE:CPA) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 1,370,000 shares, an increase of 47.2% from the June 30th total of 930,700 shares. Currently, 4.5% of the shares of the stock are short sold. Based on an average trading volume of 268,700 shares, the short-interest ratio is currently 5.1 days.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Evercore ISI raised their price target on shares of Copa from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Raymond James raised their target price on shares of Copa from $165.00 to $168.00 and gave the company a “strong-buy” rating in a research report on Friday, May 17th. TD Cowen lowered their price target on shares of Copa from $160.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Finally, Morgan Stanley began coverage on Copa in a report on Friday, May 24th. They issued an “overweight” rating and a $140.00 target price for the company. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Copa has an average rating of “Buy” and a consensus price target of $157.60.

Copa Trading Down 0.7 %

NYSE CPA traded down $0.68 on Monday, reaching $90.66. The company had a trading volume of 149,265 shares, compared to its average volume of 274,298. The business has a 50 day moving average of $95.81 and a two-hundred day moving average of $98.57. Copa has a fifty-two week low of $78.12 and a fifty-two week high of $121.20. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 6.57, a P/E/G ratio of 0.44 and a beta of 1.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.90.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.92. Copa had a net margin of 16.42% and a return on equity of 36.59%. The firm had revenue of $893.47 million during the quarter, compared to analyst estimates of $866.73 million. During the same quarter last year, the business earned $3.99 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Copa will post 16.24 EPS for the current year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $1.61 per share. The ex-dividend date was Friday, May 31st. This represents a $6.44 dividend on an annualized basis and a yield of 7.10%. Copa’s payout ratio is currently 46.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. TFO Wealth Partners LLC increased its holdings in Copa by 34,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock worth $37,000 after purchasing an additional 343 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Copa during the 4th quarter valued at $47,000. Hexagon Capital Partners LLC boosted its stake in Copa by 224.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 674 shares of the transportation company’s stock worth $72,000 after acquiring an additional 466 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Copa by 1,778.4% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 958 shares of the transportation company’s stock worth $103,000 after purchasing an additional 907 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in Copa by 45.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,858 shares of the transportation company’s stock worth $198,000 after purchasing an additional 584 shares during the period. 70.09% of the stock is 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.