Short Interest in Copa Holdings, S.A. (NYSE:CPA) Declines By 7.5%

Copa Holdings, S.A. (NYSE:CPA) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 604,700 shares, a drop of 7.5% from the May 31st total of 654,000 shares. Based on an average daily volume of 255,600 shares, the short-interest ratio is presently 2.4 days. Currently, 2.0% of the company’s stock are short sold.

Hedge Funds Weigh In On Copa

A number of institutional investors have recently modified their holdings of CPA. TFO Wealth Partners LLC boosted its holdings in shares of Copa by 34,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 343 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Copa in the fourth quarter valued at approximately $47,000. Hexagon Capital Partners LLC grew its holdings 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 during the period. Migdal Insurance & Financial Holdings Ltd. raised its position 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 acquiring an additional 907 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted 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 valued at $198,000 after acquiring an additional 584 shares during the period. 70.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CPA. Morgan Stanley initiated coverage on Copa in a research report on Friday, May 24th. They set an “overweight” rating and a $140.00 price objective for the company. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. TD Cowen decreased their price objective on shares of Copa from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Evercore ISI increased their target price on Copa from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Finally, Raymond James lifted their price target on Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $154.67.

Copa Stock Down 0.8 %

NYSE:CPA traded down $0.73 during midday trading on Wednesday, hitting $92.33. 208,424 shares of the company were exchanged, compared to its average volume of 273,773. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58. Copa has a fifty-two week low of $78.12 and a fifty-two week high of $121.20. The company has a market capitalization of $3.64 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 0.21 and a beta of 1.47. The company has a fifty day simple moving average of $99.10 and a 200 day simple moving average of $99.96.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.92. The business had revenue of $893.47 million during the quarter, compared to the consensus estimate of $866.73 million. Copa had a return on equity of 36.59% and a net margin of 16.42%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.99 EPS. As a group, equities analysts anticipate that Copa will post 16.51 earnings per share for the current fiscal year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 6.97%. The ex-dividend date was Friday, May 31st. Copa’s payout ratio is currently 46.33%.

Copa Company Profile

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.