Copa (NYSE:CPA) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a research note published on Saturday.

Several other equities research analysts also recently commented on CPA. Evercore reissued an “outperform” rating and issued a $175.00 price objective on shares of Copa in a report on Friday, May 15th. Raymond James Financial boosted their target price on shares of Copa from $190.00 to $195.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. upped their price target on shares of Copa from $165.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. UBS Group cut their price target on shares of Copa from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group began coverage on shares of Copa in a research report on Thursday, June 18th. They issued a “buy” rating and a $185.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Copa has an average rating of “Buy” and a consensus price target of $173.20.

Copa Stock Down 0.6%

Shares of Copa stock opened at $135.61 on Friday. The business’s 50 day simple moving average is $144.49 and its 200 day simple moving average is $134.12. Copa has a 52-week low of $107.44 and a 52-week high of $160.46. The firm has a market cap of $5.58 billion, a PE ratio of 8.92, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.06 and a current ratio of 1.06.

Copa (NYSE:CPA) last posted its quarterly earnings data on Saturday, August 8th. The transportation company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.21). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. Copa had a return on equity of 22.40% and a net margin of 15.71%.The company’s quarterly revenue 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. On average, analysts predict that Copa will post 16.28 earnings per share for the current fiscal year.

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $1.71 dividend. The ex-dividend date is Monday, August 31st. This represents a $6.84 dividend on an annualized basis and a yield of 5.0%. Copa’s dividend payout ratio is 44.97%.

Hedge Funds Weigh In On Copa

Several institutional investors and hedge funds have recently made changes to their positions in the company. Elevation Wealth Partners LLC boosted its stake in Copa by 240.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 167 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 118 shares during the period. Hilton Head Capital Partners LLC bought a new position in Copa during the 4th quarter worth $27,000. Empowered Funds LLC acquired a new stake in shares of Copa during the fourth quarter worth $29,000. US Bancorp DE lifted its holdings in shares of Copa by 90.2% during the third quarter. US Bancorp DE now owns 253 shares of the transportation company’s stock worth $30,000 after buying an additional 120 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in shares of Copa by 284.2% in the first quarter. SJS Investment Consulting Inc. now owns 292 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 216 shares during the period. Institutional investors and hedge funds own 70.09% of the company’s stock.

About Copa

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.