Copa (NYSE:CPA) Cut to Hold at StockNews.com

StockNews.com lowered shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a report issued on Monday morning.

CPA has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Evercore ISI lowered their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen reduced their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. One 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $148.83.

Copa Price Performance

Shares of Copa stock opened at $93.30 on Monday. The company has a fifty day moving average of $97.13 and a 200-day moving average of $94.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 1.09. Copa has a 52-week low of $80.01 and a 52-week high of $114.00. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 6.14, a price-to-earnings-growth ratio of 0.74 and a beta of 1.48.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date is Monday, December 2nd. Copa’s payout ratio is 42.59%.

Institutional Trading of Copa

Institutional investors have recently added to or reduced their stakes in the company. Optimist Retirement Group LLC bought a new stake in shares of Copa during the third quarter valued at approximately $240,000. TT International Asset Management LTD bought a new stake in shares of Copa in the 3rd quarter valued at about $4,723,000. Barclays PLC lifted its position in shares of Copa by 44.2% in the 3rd quarter. Barclays PLC now owns 24,721 shares of the transportation company’s stock worth $2,319,000 after purchasing an additional 7,576 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Copa during the third quarter valued at approximately $9,764,000. Finally, Two Sigma Advisers LP increased its holdings in Copa by 250.1% during the third quarter. Two Sigma Advisers LP now owns 128,505 shares of the transportation company’s stock valued at $12,059,000 after buying an additional 91,805 shares during the period. Institutional investors own 70.09% of the company’s stock.

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.