Harvest Portfolios Group Inc. Sells 434 Shares of Copa Holdings, S.A. $CPA

Harvest Portfolios Group Inc. reduced its stake in Copa Holdings, S.A. (NYSE:CPA) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,046 shares of the transportation company’s stock after selling 434 shares during the period. Harvest Portfolios Group Inc.’s holdings in Copa were worth $555,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CPA. SBI Securities Co. Ltd. lifted its stake in shares of Copa by 2,813.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,049 shares of the transportation company’s stock worth $97,000 after buying an additional 1,013 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Copa by 32.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 19,647 shares of the transportation company’s stock worth $1,817,000 after acquiring an additional 4,767 shares during the last quarter. Carrhae Capital LLP lifted its position in Copa by 10.8% during the first quarter. Carrhae Capital LLP now owns 777,929 shares of the transportation company’s stock worth $71,927,000 after acquiring an additional 76,062 shares during the last quarter. Foundry Partners LLC boosted its holdings in shares of Copa by 1.4% during the first quarter. Foundry Partners LLC now owns 49,192 shares of the transportation company’s stock worth $4,548,000 after acquiring an additional 665 shares during the period. Finally, Montag A & Associates Inc. acquired a new position in shares of Copa in the first quarter valued at approximately $30,000. 70.09% of the stock is owned by institutional investors.

Copa Price Performance

Shares of NYSE CPA opened at $125.34 on Friday. The business has a fifty day moving average price of $121.41 and a two-hundred day moving average price of $112.05. The stock has a market capitalization of $5.16 billion, a PE ratio of 8.15, a P/E/G ratio of 1.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.93. Copa Holdings, S.A. has a fifty-two week low of $82.54 and a fifty-two week high of $130.00.

Copa (NYSE:CPA) last released its earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.36. Copa had a return on equity of 26.22% and a net margin of 18.36%.The company had revenue of $842.60 million for the quarter, compared to analyst estimates of $833.12 million. During the same period in the prior year, the firm posted $2.88 EPS. Copa’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CPA shares. TD Cowen increased their target price on Copa from $144.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Cowen reaffirmed a “buy” rating on shares of Copa in a report on Friday, August 8th. Raymond James Financial set a $164.00 target price on Copa and gave the stock a “strong-buy” rating in a report on Monday. Morgan Stanley reissued an “overweight” rating and issued a $145.00 target price (up previously from $125.00) on shares of Copa in a research report on Monday, August 11th. Finally, Evercore ISI raised their price target on shares of Copa from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, Copa currently has a consensus rating of “Buy” and a consensus price target of $157.67.

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.