Copa Holdings, S.A. (NYSE:CPA) Short Interest Down 7.5% in June

Copa Holdings, S.A. (NYSE:CPA) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 604,700 shares, a drop of 7.5% from the May 31st total of 654,000 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily trading volume, of 255,600 shares, the short-interest ratio is currently 2.4 days.

Copa Stock Performance

Shares of Copa stock opened at $92.33 on Thursday. The business has a 50-day simple moving average of $98.99 and a 200 day simple moving average of $99.91. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 0.21 and a beta of 1.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.90. Copa has a one year low of $78.12 and a one year high of $121.20.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, May 15th. The transportation company reported $4.19 EPS for the quarter, topping the consensus estimate of $3.27 by $0.92. The company had revenue of $893.47 million during the quarter, compared to the consensus estimate of $866.73 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.99 earnings per share. On average, research analysts anticipate that Copa will post 16.51 earnings per share for the current fiscal year.

Copa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $1.61 dividend. The ex-dividend date was Friday, May 31st. This represents a $6.44 annualized dividend and a dividend yield of 6.97%. Copa’s dividend payout ratio is currently 46.33%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CPA. TFO Wealth Partners LLC boosted its stake in shares of Copa by 34,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock worth $37,000 after buying an additional 343 shares during the last quarter. Scarborough Advisors LLC bought a new stake in Copa in the fourth quarter worth about $47,000. Hexagon Capital Partners LLC boosted its stake in Copa by 224.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 674 shares of the transportation company’s stock valued at $72,000 after acquiring an additional 466 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Copa by 1,778.4% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 958 shares of the transportation company’s stock valued at $103,000 after acquiring an additional 907 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Copa by 45.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,858 shares of the transportation company’s stock worth $198,000 after purchasing an additional 584 shares during the last quarter. 70.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CPA. Evercore ISI upped 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. Morgan Stanley initiated coverage on Copa in a research report on Friday, May 24th. They set an “overweight” rating and a $140.00 target price on the stock. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Raymond James boosted their price target on Copa from $165.00 to $168.00 and gave the company a “strong-buy” rating in a research note on Friday, May 17th. Finally, TD Cowen reduced their price objective on shares of Copa from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $154.67.

Copa Company Profile

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.