Copa (NYSE:CPA) Downgraded to Hold Rating by StockNews.com

Copa (NYSE:CPA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

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

Copa Stock Performance

Shares of NYSE CPA opened at $92.90 on Monday. The business has a fifty day simple moving average of $97.07 and a 200 day simple moving average of $94.88. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.73 and a beta of 1.48. Copa has a one year low of $80.01 and a one year high of $114.00.

Institutional Trading of Copa

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of Copa by 72.9% during the 1st quarter. Russell Investments Group Ltd. now owns 11,141 shares of the transportation company’s stock worth $1,160,000 after buying an additional 4,696 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Copa by 219.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company’s stock worth $5,164,000 after buying an additional 34,027 shares during the period. Silvercrest Asset Management Group LLC acquired a new position in shares of Copa during the 1st quarter worth about $1,005,000. Virtu Financial LLC acquired a new position in shares of Copa during the 1st quarter worth about $557,000. Finally, First Hawaiian Bank grew its position in shares of Copa by 8.8% during the 2nd quarter. First Hawaiian Bank now owns 5,440 shares of the transportation company’s stock worth $518,000 after buying an additional 440 shares during the period. 70.09% of the stock is currently owned by institutional investors and hedge funds.

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.