Copa (NYSE:CPA) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Separately, UBS Group boosted their price target on shares of Copa from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Copa presently has a consensus rating of “Buy” and an average target price of $153.29.

Copa Price Performance

Shares of CPA opened at $91.81 on Wednesday. The firm has a 50-day simple moving average of $89.77 and a two-hundred day simple moving average of $92.13. The stock has a market cap of $3.86 billion, a PE ratio of 6.07, a P/E/G ratio of 0.69 and a beta of 1.44. Copa has a 1-year low of $80.01 and a 1-year high of $114.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.99.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $864.90 million. During the same quarter last year, the firm earned $4.39 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, analysts forecast that Copa will post 14.44 EPS for the current year.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Monday, December 2nd. Copa’s dividend payout ratio is currently 42.59%.

Institutional Trading of Copa

Hedge funds have recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda grew its stake in shares of Copa by 0.9% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 388,686 shares of the transportation company’s stock worth $34,158,000 after purchasing an additional 3,657 shares in the last quarter. Ruffer LLP acquired a new position in shares of Copa during the 4th quarter worth about $6,737,000. CM Management LLC boosted its position in shares of Copa by 71.4% during the 4th quarter. CM Management LLC now owns 30,000 shares of the transportation company’s stock worth $2,636,000 after acquiring an additional 12,500 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Copa in the 4th quarter valued at about $46,433,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Copa during the 4th quarter worth about $1,004,000. Institutional investors and hedge funds 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 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.