Copa (NYSE:CPA) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Copa (NYSE:CPA) from a hold rating to a buy rating in a report issued on Friday.

Separately, UBS Group boosted their price target on Copa from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $153.29.

Copa Stock Performance

CPA opened at $90.24 on Friday. The firm’s fifty day simple moving average is $91.58 and its two-hundred day simple moving average is $92.26. Copa has a 52-week low of $80.01 and a 52-week high of $114.00. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 0.64 and a beta of 1.44. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Copa had a net margin of 18.20% and a return on equity of 28.46%. The firm had revenue of $854.71 million for the quarter, compared to analyst estimates of $864.90 million. During the same period last year, the company posted $4.39 EPS. Copa’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts anticipate that Copa will post 14.44 earnings per share for the current fiscal year.

Copa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date of this dividend was Monday, December 2nd. Copa’s dividend payout ratio is currently 42.59%.

Hedge Funds Weigh In On Copa

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Copa during the 3rd quarter valued at approximately $9,764,000. CWA Asset Management Group LLC acquired a new position in shares of Copa in the 3rd quarter valued at $611,000. Aptus Capital Advisors LLC grew its holdings in shares of Copa by 15.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 37,742 shares of the transportation company’s stock worth $3,542,000 after purchasing an additional 5,054 shares during the period. Fourth Sail Capital LP increased its position in shares of Copa by 45.0% during the 3rd quarter. Fourth Sail Capital LP now owns 156,985 shares of the transportation company’s stock worth $14,731,000 after purchasing an additional 48,692 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Copa by 7,848.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock valued at $39,280,000 after buying an additional 413,322 shares during the period. 70.09% of the stock is currently owned by institutional investors and hedge funds.

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.