Copa (NYSE:CPA) Shares Gap Down – Should You Sell?

Copa Holdings, S.A. (NYSE:CPA) shares gapped down before the market opened on Thursday . The stock had previously closed at $105.81, but opened at $97.07. Copa shares last traded at $94.55, with a volume of 257,359 shares.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Evercore ISI reduced their target price 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. Deutsche Bank Aktiengesellschaft reduced their target price 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. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. TD Cowen reduced their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price target 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. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $148.83.

Copa Trading Down 9.5 %

The firm has a market cap of $3.77 billion, a P/E ratio of 5.83, a PEG ratio of 0.67 and a beta of 1.48. The firm’s fifty day moving average is $96.81 and its two-hundred day moving average is $95.11. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56.

Institutional Trading of Copa

Several large investors have recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC purchased a new position in Copa during the third quarter valued at $611,000. Silvercrest Asset Management Group LLC purchased a new position in Copa during the first quarter valued at $1,005,000. Price T Rowe Associates Inc. MD lifted its position in Copa by 219.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company’s stock valued at $5,164,000 after buying an additional 34,027 shares during the period. Aptus Capital Advisors LLC lifted its position in Copa by 15.5% during the third quarter. Aptus Capital Advisors LLC now owns 37,742 shares of the transportation company’s stock valued at $3,542,000 after buying an additional 5,054 shares during the period. Finally, Fourth Sail Capital LP raised its position in shares of Copa by 45.0% in the 3rd quarter. Fourth Sail Capital LP now owns 156,985 shares of the transportation company’s stock worth $14,731,000 after purchasing an additional 48,692 shares during the last quarter. Institutional investors own 70.09% of the company’s stock.

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.