StockNews.com Upgrades Copa (NYSE:CPA) to Buy

Copa (NYSE:CPA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Evercore ISI reduced their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Finally, TD Cowen cut their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $148.83.

Copa Stock Up 1.1 %

CPA opened at $93.62 on Tuesday. Copa has a twelve month low of $78.12 and a twelve month high of $114.00. The company’s 50-day moving average price is $89.48 and its two-hundred day moving average price is $95.62. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 6.74, a PEG ratio of 0.57 and a beta of 1.48. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.77 by $0.11. Copa had a return on equity of 30.81% and a net margin of 19.31%. The business had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. During the same quarter in the prior year, the business earned $3.92 earnings per share. Copa’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts expect that Copa will post 14.53 earnings per share for the current year.

Institutional Investors Weigh In On Copa

Several large investors have recently added to or reduced their stakes in the business. Sprucegrove Investment Management Ltd. raised its holdings in shares of Copa by 8.3% in 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 in the last quarter. Capital World Investors lifted its position in Copa by 5.9% during the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock valued at $417,134,000 after purchasing an additional 218,236 shares during the last quarter. Raymond James & Associates grew its stake in Copa by 61.4% in the 2nd quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock worth $28,050,000 after buying an additional 112,143 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Copa by 34.8% in the 1st quarter. Sei Investments Co. now owns 346,078 shares of the transportation company’s stock worth $36,047,000 after buying an additional 89,354 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Copa by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock valued at $78,950,000 after buying an additional 65,525 shares in the last quarter. Institutional investors own 70.09% of the company’s stock.

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.