ValuEngine Downgrades Copa (NYSE:CPA) to Sell

Copa (NYSE:CPA) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, September 4th, ValuEngine reports.

A number of other equities analysts have also recently issued reports on the company. Citigroup raised Copa from a “neutral” rating to a “buy” rating in a report on Thursday, May 9th. Buckingham Research lifted their target price on Copa from $119.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Evercore ISI raised Copa from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $110.00 to $115.00 in a research note on Tuesday, August 27th. Stifel Nicolaus raised their price target on Copa from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Finally, Cowen reiterated a “market perform” rating and set a $93.00 target price (up from $85.00) on shares of Copa in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $108.50.

Shares of CPA stock traded down $0.66 during mid-day trading on Wednesday, reaching $100.91. The stock had a trading volume of 4,656 shares, compared to its average volume of 292,384. The firm’s 50 day simple moving average is $102.64 and its 200 day simple moving average is $92.70. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.67. Copa has a one year low of $67.38 and a one year high of $113.62. The firm has a market cap of $4.21 billion, a PE ratio of 15.37, a P/E/G ratio of 0.79 and a beta of 1.36.

Copa (NYSE:CPA) last announced its quarterly earnings data on Wednesday, August 7th. The transportation company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.15. Copa had a return on equity of 12.35% and a net margin of 1.59%. The company had revenue of $645.10 million during the quarter, compared to the consensus estimate of $625.92 million. During the same quarter last year, the company earned $1.17 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts forecast that Copa will post 8.01 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Copa by 46.4% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 12,173 shares of the transportation company’s stock worth $981,000 after purchasing an additional 3,860 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Copa during the first quarter worth $619,000. State Board of Administration of Florida Retirement System increased its holdings in Copa by 2.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,965 shares of the transportation company’s stock valued at $2,899,000 after purchasing an additional 730 shares during the period. California Public Employees Retirement System increased its holdings in Copa by 12.9% in the first quarter. California Public Employees Retirement System now owns 69,183 shares of the transportation company’s stock valued at $5,577,000 after purchasing an additional 7,910 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Copa by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 1,760,157 shares of the transportation company’s stock valued at $141,886,000 after purchasing an additional 58,980 shares during the period. Institutional investors and hedge funds own 68.88% of the company’s stock.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 81 destinations in 33 countries in North, Central, and South America, as well as the Caribbean. As of April 24, 2019, it operated a fleet of 105 aircraft comprising 6 Boeing 737 MAX9s, 82 Boeing 737NGs, and 17 Embraer-190s aircraft.

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Analyst Recommendations for Copa (NYSE:CPA)

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