Copa (NYSE:CPA) Shares Down 0.2%

Copa Holdings, S.A. (NYSE:CPA)’s stock price was down 0.2% on Monday . The company traded as low as $88.64 and last traded at $88.77. Approximately 25,346 shares were traded during trading, a decline of 91% from the average daily volume of 273,950 shares. The stock had previously closed at $88.96.

Analyst Upgrades and Downgrades

CPA has been the subject of several recent analyst reports. TD Cowen decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Morgan Stanley initiated coverage on shares of Copa in a report on Friday, May 24th. They set an “overweight” rating and a $140.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $148.83.

Copa Trading Up 0.2 %

The stock has a 50-day moving average price of $89.77 and a two-hundred day moving average price of $96.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. The stock has a market capitalization of $3.56 billion, a P/E ratio of 6.50, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48.

Copa (NYSE:CPA) last announced its earnings results on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.11. The firm had revenue of $819.40 million for the quarter, compared to analysts’ expectations of $838.13 million. Copa had a net margin of 19.31% and a return on equity of 30.81%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.92 EPS. On average, research analysts forecast that Copa Holdings, S.A. will post 14.53 EPS for the current fiscal year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date was Friday, August 30th. Copa’s dividend payout ratio (DPR) is 46.33%.

Hedge Funds Weigh In On Copa

A number of hedge funds have recently bought and sold shares of the business. SPX Gestao de Recursos Ltda raised its position in Copa by 16.4% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 417,764 shares of the transportation company’s stock worth $39,763,000 after buying an additional 58,846 shares during the last quarter. Shellback Capital LP increased its position in shares of Copa by 13.9% during the 2nd quarter. Shellback Capital LP now owns 440,000 shares of the transportation company’s stock valued at $41,879,000 after purchasing an additional 53,806 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Copa by 29.3% during the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 610 shares during the last quarter. Marathon Capital Management increased its position in shares of Copa by 11.8% during the 2nd quarter. Marathon Capital Management now owns 69,503 shares of the transportation company’s stock valued at $6,615,000 after purchasing an additional 7,310 shares during the last quarter. Finally, Appian Way Asset Management LP increased its position in shares of Copa by 84.3% during the 2nd quarter. Appian Way Asset Management LP now owns 19,168 shares of the transportation company’s stock valued at $1,824,000 after purchasing an additional 8,768 shares during the last quarter. Hedge funds and other 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.