Copa (NYSE:CPA) Stock Breaks Above 200 Day Moving Average – Here’s Why

Copa Holdings, S.A. (NYSE:CPA)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $132.61 and traded as high as $139.75. Copa shares last traded at $138.5880, with a volume of 361,600 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Raymond James Financial dropped their price objective on shares of Copa from $195.00 to $185.00 and set a “strong-buy” rating for the company in a report on Monday, August 24th. Wall Street Zen lowered shares of Copa from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Jefferies Financial Group assumed coverage on shares of Copa in a research report on Thursday, June 18th. They issued a “buy” rating and a $185.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Copa in a report on Tuesday, August 11th. Finally, UBS Group reduced their price objective on shares of Copa from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Copa currently has a consensus rating of “Buy” and a consensus price target of $172.20.

Copa Stock Down 1.4%

The stock has a 50-day moving average price of $133.44 and a 200-day moving average price of $132.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.97. The company has a market capitalization of $5.53 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.28 and a beta of 1.05.

Copa (NYSE:CPA) last announced its 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). Copa had a net margin of 15.71% and a return on equity of 22.40%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company earned $3.61 earnings per share. The business’s revenue was up 25.7% on a year-over-year basis. On average, research analysts predict that Copa Holdings, S.A. will post 15.22 EPS for the current fiscal year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $1.71 per share. The ex-dividend date was Monday, August 31st. This represents a $6.84 annualized dividend and a dividend yield of 5.1%. Copa’s dividend payout ratio is 44.97%.

Hedge Funds Weigh In On Copa

Hedge funds and other institutional investors have recently bought and sold shares of the company. Elevation Wealth Partners LLC grew its holdings in Copa by 240.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 167 shares of the transportation company’s stock worth $26,000 after acquiring an additional 118 shares during the period. Hilton Head Capital Partners LLC acquired a new position in shares of Copa in the 4th quarter valued at about $27,000. SJS Investment Consulting Inc. boosted its position in shares of Copa by 284.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 292 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 216 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Copa by 196.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the transportation company’s stock valued at $54,000 after purchasing an additional 298 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Copa during the second quarter worth approximately $76,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

About Copa

Copa Holdings, SA is a Panama-based airline holding company whose principal subsidiary is Copa Airlines, a commercial carrier serving destinations throughout the Americas. The company provides scheduled passenger and cargo air transportation, connecting Panama and other Latin American markets with destinations in North, Central and South America and the Caribbean.

Copa Airlines operates its primary hub at Tocumen International Airport in Panama City. The hub supports the airline’s “Hub of the Americas” network, allowing passengers to connect between cities across the region.