Copa (NYSE:CPA) Stock Rating Lowered by StockNews.com

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

A number of other brokerages have also recently issued reports on CPA. TD Cowen lowered their target price on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered 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. JPMorgan Chase & Co. cut their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Finally, Evercore ISI decreased 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. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $148.83.

Copa Stock Performance

NYSE CPA opened at $93.35 on Monday. The firm’s fifty day moving average price is $97.19 and its two-hundred day moving average price is $94.80. The stock has a market cap of $3.68 billion, a PE ratio of 6.17, a PEG ratio of 0.74 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 1.09. Copa has a fifty-two week low of $80.01 and a fifty-two week high of $114.00.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date is Monday, December 2nd. Copa’s dividend payout ratio is presently 42.59%.

Hedge Funds Weigh In On Copa

Several hedge funds and other institutional investors have recently bought and sold shares of CPA. Russell Investments Group Ltd. raised its position in shares of Copa by 72.9% in the 1st quarter. Russell Investments Group Ltd. now owns 11,141 shares of the transportation company’s stock worth $1,160,000 after acquiring an additional 4,696 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Copa by 219.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company’s stock worth $5,164,000 after purchasing an additional 34,027 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Copa in the first quarter valued at approximately $1,005,000. Virtu Financial LLC bought a new position in shares of Copa during the 1st quarter worth approximately $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. Institutional investors and hedge funds 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.