TD Cowen Trims Copa (NYSE:CPA) Target Price to $130.00

Copa (NYSE:CPA) had its target price lowered by TD Cowen from $145.00 to $130.00 in a report published on Friday morning, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the transportation company’s stock.

CPA has been the topic of a number of other reports. Evercore ISI lowered their price target on shares of Copa from $165.00 to $150.00 and set an outperform rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Copa from $145.00 to $130.00 and set a buy rating for the company in a report on Thursday. StockNews.com downgraded shares of Copa from a buy rating to a hold rating in a research report on Wednesday, June 19th. Morgan Stanley assumed coverage on Copa in a report on Friday, May 24th. They issued an overweight rating and a $140.00 price target on the stock. Finally, Raymond James lifted their price objective on Copa from $165.00 to $168.00 and gave the stock a strong-buy rating in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Buy and an average target price of $148.00.

Copa Stock Performance

Copa stock traded up $0.63 during trading hours on Friday, reaching $88.12. 338,882 shares of the stock were exchanged, compared to its average volume of 279,312. The stock has a market cap of $3.47 billion, a P/E ratio of 6.34, a P/E/G ratio of 0.42 and a beta of 1.47. The firm’s 50 day moving average is $92.93 and its 200 day moving average is $98.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.90 and a current ratio of 0.99. Copa has a 52-week low of $78.12 and a 52-week high of $114.00.

Copa (NYSE:CPA) last announced its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.11. The company had revenue of $819.40 million for the quarter, compared to analyst estimates of $838.13 million. Copa had a return on equity of 36.59% and a net margin of 16.42%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.92 EPS. Analysts predict that Copa will post 16.24 EPS for the current fiscal year.

Copa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $1.61 per share. The ex-dividend date is Friday, August 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.31%. Copa’s dividend payout ratio (DPR) is 46.33%.

Institutional Investors Weigh In On Copa

Institutional investors and hedge funds have recently bought and sold shares of the stock. TFO Wealth Partners LLC increased its position in Copa by 34,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock worth $37,000 after buying an additional 343 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Copa in the 4th quarter valued at about $47,000. Hexagon Capital Partners LLC lifted its holdings in Copa by 224.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 674 shares of the transportation company’s stock valued at $72,000 after purchasing an additional 466 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Copa by 1,778.4% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 958 shares of the transportation company’s stock worth $103,000 after purchasing an additional 907 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Copa by 69,000.0% during the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after acquiring an additional 1,380 shares during the last quarter. Hedge funds and other 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 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.