StockNews.com Downgrades Copa (NYSE:CPA) to Hold

StockNews.com lowered shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a research report released on Saturday.

Several other research firms have also issued reports on CPA. Deutsche Bank Aktiengesellschaft cut their price target 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. TD Cowen reduced their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Finally, Evercore ISI lowered their price objective on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $148.83.

Copa Stock Up 4.4 %

NYSE:CPA opened at $107.39 on Friday. The company’s 50-day simple moving average is $96.45 and its 200-day simple moving average is $95.03. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. Copa has a fifty-two week low of $80.01 and a fifty-two week high of $114.00. The stock has a market capitalization of $4.23 billion, a P/E ratio of 6.57, a P/E/G ratio of 0.64 and a beta of 1.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Carrhae Capital LLP acquired a new stake in Copa in the third quarter valued at approximately $52,166,000. Vontobel Holding Ltd. raised its holdings in shares of Copa by 7,848.9% during the third quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock valued at $39,280,000 after acquiring an additional 413,322 shares during the last quarter. Sprucegrove Investment Management Ltd. lifted its holdings in Copa by 8.3% in the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after purchasing an additional 236,850 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Copa in the third quarter worth about $14,094,000. Finally, Capital World Investors boosted its holdings in shares of Copa by 3.7% during the 1st quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock worth $423,781,000 after purchasing an additional 144,806 shares during the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

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.