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

StockNews.com downgraded shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a research note published on Saturday.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Evercore ISI reduced their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen decreased their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One research 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. According to MarketBeat.com, Copa currently has a consensus rating of “Buy” and an average target price of $148.83.

Copa Stock Up 4.4 %

Shares of NYSE CPA opened at $107.39 on Friday. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 0.64 and a beta of 1.48. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average is $96.45 and its 200 day moving average is $95.03. Copa has a 52 week low of $80.01 and a 52 week high of $114.00.

Institutional Trading of Copa

A number of institutional investors and hedge funds have recently bought and sold shares of CPA. Carrhae Capital LLP purchased a new position in shares of Copa during the third quarter valued at about $52,166,000. Vontobel Holding Ltd. grew its holdings in Copa by 7,848.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock valued at $39,280,000 after purchasing an additional 413,322 shares during the last quarter. Sprucegrove Investment Management Ltd. raised its holdings in shares of Copa by 8.3% in the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after buying an additional 236,850 shares during the period. Point72 Asset Management L.P. purchased a new stake in Copa in the third quarter worth $14,094,000. Finally, Capital World Investors increased its stake in Copa by 3.7% in the 1st quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock worth $423,781,000 after buying an additional 144,806 shares during the period. 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 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.