Copa (NYSE:CPA) Sees Unusually-High Trading Volume

Shares of Copa Holdings, S.A. (NYSE:CPA) saw unusually-strong trading volume on Friday . Approximately 85,701 shares changed hands during mid-day trading, a decline of 69% from the previous session’s volume of 273,845 shares.The stock last traded at $90.27 and had previously closed at $89.98.

Analyst Ratings Changes

Several research analysts have weighed in on CPA shares. TD Cowen lowered their price objective on Copa from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Morgan Stanley started coverage on shares of Copa in a report on Friday, May 24th. They issued an “overweight” rating and a $140.00 price objective for the company. Raymond James increased their target price on shares of Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 17th. Finally, Evercore ISI lifted their price target on shares of Copa from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Copa has a consensus rating of “Buy” and an average target price of $157.60.

Copa Price Performance

The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 0.45 and a beta of 1.47. The business’s 50 day simple moving average is $97.65 and its 200-day simple moving average is $99.04.

Copa (NYSE:CPA) last posted its quarterly earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.92. Copa had a net margin of 16.42% and a return on equity of 36.59%. The business had revenue of $893.47 million for the quarter, compared to analyst estimates of $866.73 million. During the same quarter last year, the business posted $3.99 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts forecast that Copa Holdings, S.A. will post 16.29 earnings per share for the current year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $1.61 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $6.44 annualized dividend and a dividend yield of 7.08%. Copa’s payout ratio is 46.33%.

Institutional Trading of Copa

Large investors have recently bought and sold shares of the business. Capital World Investors boosted its position in Copa by 5.9% in the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock valued at $417,134,000 after buying an additional 218,236 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Copa by 34.8% during the 1st quarter. Sei Investments Co. now owns 346,078 shares of the transportation company’s stock valued at $36,047,000 after acquiring an additional 89,354 shares in the last quarter. Fourth Sail Capital LP acquired a new stake in shares of Copa during the 4th quarter valued at $7,654,000. Sprucegrove Investment Management Ltd. boosted its stake in shares of Copa by 2.7% during the fourth quarter. Sprucegrove Investment Management Ltd. now owns 2,661,539 shares of the transportation company’s stock valued at $282,948,000 after purchasing an additional 70,300 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Copa by 60.4% during the first quarter. Raymond James & Associates now owns 182,567 shares of the transportation company’s stock worth $19,016,000 after purchasing an additional 68,724 shares during the last quarter. 70.09% of the stock is 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 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.