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

Copa (NYSE:CPA) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of 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 lowered their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI cut their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a 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 for the company in a report on Friday, August 9th. One 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 stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $148.83.

Copa Stock Performance

CPA opened at $102.56 on Friday. The company has a market cap of $4.04 billion, a P/E ratio of 6.28, a price-to-earnings-growth 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 50-day moving average price is $95.65 and its 200-day moving average price is $94.97. Copa has a 52-week low of $80.01 and a 52-week high of $114.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors raised 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 valued at $423,781,000 after purchasing an additional 144,806 shares during the last quarter. Sprucegrove Investment Management Ltd. grew its holdings 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 worth $293,743,000 after buying an additional 236,850 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Copa by 1.9% in the second quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock valued at $82,990,000 after buying an additional 16,100 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Copa by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock worth $78,950,000 after buying an additional 65,525 shares in the last quarter. Finally, Carrhae Capital LLP purchased a new position in shares of Copa in the third quarter worth about $52,166,000. 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.