Copa (NYSE:CPA) Shares Gap Down – Here’s What Happened

Shares of Copa Holdings, S.A. (NYSE:CPA) gapped down before the market opened on Thursday . The stock had previously closed at $105.81, but opened at $97.07. Copa shares last traded at $94.55, with a volume of 257,359 shares traded.

Wall Street Analysts Forecast Growth

CPA has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Evercore ISI dropped their target price on shares of 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. dropped their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $148.83.

Copa Stock Performance

The firm’s 50-day moving average price is $96.99 and its two-hundred day moving average price is $95.03. The firm has a market capitalization of $3.68 billion, a PE ratio of 6.17, a P/E/G ratio of 0.67 and a beta of 1.48. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 6.90%. The ex-dividend date is Monday, December 2nd. Copa’s dividend payout ratio (DPR) is currently 42.59%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CPA. Bell Investment Advisors Inc grew its position in Copa by 29.6% during the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 143 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Copa during the third quarter valued at approximately $82,000. Hexagon Capital Partners LLC grew its position in Copa by 14.9% during the second quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock valued at $85,000 after purchasing an additional 116 shares in the last quarter. Rhumbline Advisers grew its position in Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Copa by 29.3% during the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 610 shares in the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Company Profile

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.