Copa (NYSE:CPA) Shares Climb 7.3% – Here’s What Happened

by · The Cerbat Gem

Copa Holdings, S.A. (NYSE:CPA – Get Free Report)’s share price traded up 7.3% during mid-day trading on Monday. The stock traded as high as $137.00 and last traded at $138.3220. 20,538 shares were traded during trading, a decline of 95% from the average daily volume of 374,462 shares. The stock had previously closed at $128.92.

Analysts Set New Price Targets

CPA has been the subject of several research analyst reports. Wall Street Zen downgraded Copa from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “buy (b)” rating on shares of Copa in a research note on Tuesday, August 11th. Raymond James Financial cut their price objective on Copa from $195.00 to $185.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 24th. Finally, UBS Group lowered their target price on Copa from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $172.20.

Check Out Our Latest Research Report on Copa

Copa Stock Up 6.9%

The business has a fifty day moving average of $131.74 and a 200 day moving average of $133.17. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $5.67 billion, a PE ratio of 9.07, a PEG ratio of 1.23 and a beta of 1.14.

Copa (NYSE:CPA – Get Free Report) last announced its quarterly earnings results on Saturday, August 8th. The transportation company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.21). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Copa had a net margin of 15.71% and a return on equity of 22.40%. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 earnings per share. Equities research analysts anticipate that Copa Holdings, S.A. will post 14.78 EPS for the current year.

Copa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a $1.71 dividend. The ex-dividend date was Monday, August 31st. This represents a $6.84 annualized dividend and a dividend yield of 5.0%. Copa’s payout ratio is currently 44.97%.

Institutional Investors Weigh In On Copa

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of Copa by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,396,963 shares of the transportation company’s stock worth $158,691,000 after acquiring an additional 52,243 shares during the last quarter. Cullen Capital Management LLC acquired a new position in Copa in the 2nd quarter valued at approximately $88,871,000. Sei Investments Co. raised its position in shares of Copa by 5.1% in the first quarter. Sei Investments Co. now owns 351,310 shares of the transportation company’s stock valued at $39,912,000 after purchasing an additional 17,113 shares during the period. INCA Investments LLC acquired a new stake in Copa in the 1st quarter worth $26,950,000. Finally, Bank of America Corp DE boosted its position in shares of Copa by 45.5% during the 1st quarter. Bank of America Corp DE now owns 181,594 shares of the transportation company’s stock valued at $20,631,000 after acquiring an additional 56,764 shares in the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Copa Company Profile

(Get Free Report)

Copa Holdings, SA is a Panama-based airline holding company whose principal subsidiary is Compañía Panameña de Aviación, SA, known as Copa Airlines. The company provides scheduled passenger air transportation, with Tocumen International Airport in Panama City serving as its primary hub.

Copa Airlines operates a network connecting Panama with destinations across North, Central and South America and the Caribbean. Its services support both business and leisure travel, with connecting traffic routed through Panama’s geographic position as a regional aviation hub.

Copa Holdings also has an interest in Wingo, a low-cost airline serving Colombia and other markets in the Americas.

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