Copa (NYSE:CPA) Shares Gap Down – Should You Sell?

Copa Holdings, S.A. (NYSE:CPA)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $105.81, but opened at $97.07. Copa shares last traded at $94.55, with a volume of 257,359 shares trading hands.

Analysts Set New Price Targets

CPA has been the subject of a number of research analyst reports. TD Cowen dropped their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Evercore ISI decreased their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $148.83.

Copa Trading Down 9.5 %

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 capitalization of $3.77 billion, a P/E ratio of 5.83, a price-to-earnings-growth ratio of 0.67 and a beta of 1.48. The firm’s fifty day simple moving average is $96.81 and its 200 day simple moving average is $95.11.

Institutional Investors Weigh In On Copa

A number of institutional investors have recently added to or reduced their stakes in the business. Carrhae Capital LLP acquired a new position in shares of Copa in the 3rd quarter worth approximately $52,166,000. Vontobel Holding Ltd. lifted its position in shares of Copa by 7,848.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock valued at $39,280,000 after acquiring an additional 413,322 shares during the period. Sprucegrove Investment Management Ltd. lifted its position in shares of Copa by 8.3% during the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after acquiring an additional 236,850 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Copa during the 3rd quarter valued at $14,094,000. Finally, Capital World Investors lifted its position in shares of Copa by 3.7% during the 1st quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock valued at $423,781,000 after acquiring an additional 144,806 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 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.