Evercore ISI Lowers Copa (NYSE:CPA) Price Target to $150.00

Copa (NYSE:CPA) had its price objective cut by research analysts at Evercore ISI from $165.00 to $150.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the transportation company’s stock. Evercore ISI’s price objective would indicate a potential upside of 70.22% from the company’s current price.

CPA has been the topic of a number of other research reports. Morgan Stanley assumed coverage on Copa in a research note on Friday, May 24th. They set an “overweight” rating and a $140.00 price target on the stock. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Raymond James lifted their target price on Copa from $165.00 to $168.00 and gave the company a “strong-buy” rating in a report on Friday, May 17th. Finally, TD Cowen lowered their price target on Copa from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $148.00.

Copa Price Performance

Shares of CPA traded up $0.63 during trading hours on Thursday, reaching $88.12. The company had a trading volume of 338,882 shares, compared to its average volume of 279,312. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 0.42 and a beta of 1.47. Copa has a 12-month low of $78.12 and a 12-month high of $114.00. The firm has a 50 day simple moving average of $92.93 and a 200-day simple moving average of $98.03. 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 (NYSE:CPA) last posted its earnings results on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. The company had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. Copa had a return on equity of 36.59% and a net margin of 16.42%. Copa’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.92 earnings per share. Research analysts expect that Copa will post 16.24 earnings per share for the current year.

Hedge Funds Weigh In On Copa

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TFO Wealth Partners LLC grew its position in 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 Copa during the 4th quarter worth $47,000. Hexagon Capital Partners LLC lifted its holdings in Copa by 224.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 674 shares of the transportation company’s stock worth $72,000 after buying an additional 466 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Copa by 1,778.4% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 958 shares of the transportation company’s stock worth $103,000 after buying an additional 907 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in 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 last quarter. 70.09% of the stock is owned by institutional investors and hedge funds.

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.