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 research note published on Saturday.

Several other brokerages also recently commented on CPA. 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. cut their target price on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut their target price on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen cut their target price on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $148.83.

Copa Trading Up 0.3 %

Shares of CPA opened at $102.89 on Friday. The business has a 50-day moving average of $96.00 and a 200 day moving average of $94.99. Copa has a fifty-two week low of $80.01 and a fifty-two week high of $114.00. The firm has a market cap of $4.06 billion, a P/E ratio of 6.30, a price-to-earnings-growth ratio of 0.64 and a beta of 1.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98.

Hedge Funds Weigh In On Copa

A number of large investors have recently bought and sold shares of the stock. Carrhae Capital LLP purchased a new position in shares of Copa during the third quarter valued at approximately $52,166,000. Vontobel Holding Ltd. increased its stake 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 buying an additional 413,322 shares during the period. Sprucegrove Investment Management Ltd. increased its stake in shares of Copa by 8.3% during the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after buying an additional 236,850 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Copa during the third quarter valued at approximately $14,094,000. Finally, Capital World Investors increased its stake in shares of Copa by 3.7% during the first quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock valued at $423,781,000 after buying an additional 144,806 shares during the period. 70.09% of the stock is owned by hedge funds and other institutional investors.

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.