StockNews.com Downgrades Copa (NYSE:CPA) to Hold

StockNews.com lowered shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a research note published on Monday morning.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. TD Cowen lowered their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Evercore ISI reduced 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. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $148.83.

Copa Trading Up 1.0 %

Shares of CPA opened at $94.30 on Monday. Copa has a 1-year low of $80.01 and a 1-year high of $114.00. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $97.07 and its 200-day moving average price is $94.88. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 0.73 and a beta of 1.48.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.61 per share. The ex-dividend date is Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a yield of 6.83%. Copa’s dividend payout ratio is currently 42.59%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bell Investment Advisors Inc raised its holdings in Copa by 29.6% in the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock worth $59,000 after acquiring an additional 143 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Copa in the third quarter worth $82,000. Hexagon Capital Partners LLC lifted its holdings in shares of Copa by 14.9% during the second quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock valued at $85,000 after purchasing an additional 116 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after buying an additional 1,380 shares during the last quarter. Finally, Optimist Retirement Group LLC bought a new stake in Copa in the 3rd quarter worth about $240,000. 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 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.