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

StockNews.com cut shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

CPA has been the subject of several other reports. JPMorgan Chase & Co. reduced their target price on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Evercore ISI reduced their price objective 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. TD Cowen dropped their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One 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 target price of $148.83.

Copa Price Performance

NYSE CPA opened at $102.56 on Friday. The stock has a market capitalization of $4.04 billion, a P/E ratio of 6.28, a P/E/G ratio of 0.64 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 0.98. The business’s fifty day moving average is $95.65 and its two-hundred day moving average is $94.99. Copa has a 1 year low of $80.01 and a 1 year high of $114.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPA. Capital World Investors boosted its stake in shares of Copa by 3.7% during the 1st quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock valued at $423,781,000 after buying an additional 144,806 shares during the period. Sprucegrove Investment Management Ltd. boosted its position in Copa by 8.3% during the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after purchasing an additional 236,850 shares during the last quarter. Renaissance Technologies LLC grew its stake in 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 purchasing an additional 16,100 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Copa by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock worth $78,950,000 after purchasing an additional 65,525 shares during the last quarter. Finally, Carrhae Capital LLP purchased a new stake in shares of Copa during the 3rd 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.