Evercore ISI Lowers Copa (NYSE:CPA) Price Target to $150.00

Copa (NYSE:CPA) had its price target reduced by Evercore ISI from $165.00 to $150.00 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Several other research firms have also commented on CPA. Morgan Stanley started coverage on shares of Copa in a research note on Friday, May 24th. They set an overweight rating and a $140.00 price objective for the company. TD Cowen decreased their target price on Copa from $160.00 to $145.00 and set a buy rating for the company in a research report on Tuesday, June 18th. StockNews.com downgraded Copa from a buy rating to a hold rating in a research report on Wednesday, June 19th. Finally, Raymond James lifted their target price on Copa from $165.00 to $168.00 and gave the stock a strong-buy rating in a research report on Friday, May 17th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Copa currently has a consensus rating of Buy and a consensus target price of $148.00.

Copa Stock Up 0.7 %

NYSE CPA opened at $88.12 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $92.93 and a two-hundred day moving average of $98.08. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 0.42 and a beta of 1.47. Copa has a 52 week low of $78.12 and a 52 week high of $114.00.

Copa (NYSE:CPA) last posted its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.77 by $0.11. The company had revenue of $819.40 million during the quarter, compared to analyst estimates of $838.13 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. Copa’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.92 earnings per share. On average, analysts predict that Copa will post 16.24 earnings per share for the current year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $1.61 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $6.44 annualized dividend and a dividend yield of 7.31%. Copa’s payout ratio is currently 46.33%.

Institutional Trading of Copa

Institutional investors and hedge funds have recently made changes to their positions in the company. Brandes Investment Partners LP raised its holdings in shares of Copa by 6.2% in the fourth quarter. Brandes Investment Partners LP now owns 444,576 shares of the transportation company’s stock valued at $47,263,000 after acquiring an additional 25,811 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Copa in the first quarter valued at about $4,878,000. Deltec Asset Management LLC raised its holdings in shares of Copa by 38.9% in the first quarter. Deltec Asset Management LLC now owns 116,071 shares of the transportation company’s stock valued at $12,090,000 after acquiring an additional 32,526 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of Copa in the first quarter valued at about $1,005,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Copa in the fourth quarter valued at about $1,083,000. 70.09% of the stock is currently owned by institutional investors.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.