Copa (NYSE:CPA) Lowered to "Hold" Rating by StockNews.com

Copa (NYSE:CPA - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Several other analysts have also recently commented on CPA. Evercore ISI decreased their target price on Copa from $165.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Copa from $180.00 to $175.00 and set an "overweight" rating for the company in a research report on Thursday, August 29th. TD Cowen decreased their price target on shares of Copa from $145.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped 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 Thursday, August 8th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Copa presently has a consensus rating of "Buy" and a consensus price target of $148.83.

Copa Price Performance

Shares of Copa stock traded down $0.10 during mid-day trading on Friday, reaching $97.79. 168,838 shares of the stock were exchanged, compared to its average volume of 277,182. Copa has a fifty-two week low of $80.01 and a fifty-two week high of $114.00. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 5.98, a price-to-earnings-growth ratio of 0.60 and a beta of 1.48. The firm has a 50-day simple moving average of $94.48 and a 200 day simple moving average of $94.93. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA - Get Free Report) last posted its earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.11. The company had revenue of $819.40 million during 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%. Copa's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.92 earnings per share. On average, sell-side analysts predict that Copa will post 14.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Copa

Institutional investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC raised its holdings in Copa by 14.9% in the second quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company's stock worth $85,000 after purchasing an additional 116 shares during the period. Rhumbline Advisers grew its stake in Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company's stock valued at $132,000 after acquiring an additional 1,380 shares during the period. Kingsview Wealth Management LLC acquired a new position in Copa in the first quarter valued at about $215,000. Mackenzie Financial Corp increased its holdings in shares of Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company's stock worth $256,000 after acquiring an additional 610 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in shares of Copa during the second quarter worth about $268,000. 70.09% of the stock is owned by institutional investors and hedge funds.

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.