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

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

Several other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. 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, TD Cowen reduced 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. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $148.83.

Copa Stock Performance

Shares of NYSE CPA traded up $1.60 during trading on Wednesday, reaching $100.72. The stock had a trading volume of 252,631 shares, compared to its average volume of 279,829. Copa has a one year low of $78.12 and a one year high of $114.00. 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 has a market cap of $3.97 billion, a PE ratio of 7.25, a P/E/G ratio of 0.59 and a beta of 1.49. The firm’s 50 day moving average price is $92.33 and its two-hundred day moving average price is $95.01.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $838.13 million. During the same quarter in the previous year, the firm posted $3.92 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts forecast that Copa will post 14.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Copa

A number of large investors have recently made changes to their positions in CPA. Hexagon Capital Partners LLC lifted its stake in shares of Copa by 15.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock valued at $81,000 after acquiring an additional 102 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Copa by 69,000.0% in the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after buying an additional 1,380 shares during the period. Kingsview Wealth Management LLC acquired a new stake in shares of Copa in the 1st quarter valued at about $215,000. Mackenzie Financial Corp grew its stake in shares of Copa by 29.3% in the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after buying an additional 610 shares during the period. Finally, Qsemble Capital Management LP acquired a new position in Copa during the 2nd quarter valued at about $268,000. 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.