Copa (NYSE:CPA) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a research report released on Saturday morning.

CPA has been the subject of several other reports. UBS Group dropped their target price on Copa from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. The Goldman Sachs Group raised their price target on Copa from $138.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Weiss Ratings restated a “buy (b)” rating on shares of Copa in a report on Tuesday, August 11th. Raymond James Financial upped their price objective on shares of Copa from $190.00 to $195.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group began coverage on shares of Copa in a report on Thursday, June 18th. They set a “buy” rating and a $185.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Copa presently has a consensus rating of “Buy” and a consensus price target of $173.20.

Copa Stock Down 1.7%

CPA stock opened at $133.54 on Friday. The stock has a market capitalization of $5.49 billion, a P/E ratio of 8.78, a PEG ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 1.06. Copa has a one year low of $107.44 and a one year high of $160.46. The company has a 50 day moving average price of $144.53 and a two-hundred day moving average price of $134.08.

Copa (NYSE:CPA) last issued its quarterly earnings results on Saturday, August 8th. The transportation company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.21). Copa had a net margin of 15.71% and a return on equity of 22.40%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $3.61 earnings per share. The company’s revenue was up 25.7% on a year-over-year basis. As a group, sell-side analysts expect that Copa will post 16.28 EPS for the current year.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, August 31st. Copa’s dividend payout ratio (DPR) is 44.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPA. Goldman Sachs Group Inc. raised its holdings in Copa by 56.1% in the first quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company’s stock valued at $31,488,000 after buying an additional 122,413 shares during the period. Invesco Ltd. grew its stake in Copa by 585.6% during the second quarter. Invesco Ltd. now owns 94,361 shares of the transportation company’s stock worth $10,377,000 after buying an additional 80,598 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Copa during the second quarter worth approximately $435,000. NewEdge Advisors LLC acquired a new stake in shares of Copa in the second quarter worth $1,419,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Copa in the second quarter worth $12,875,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Company Profile

Copa Holdings, SA (NYSE:CPA) is a Panama?based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.