Copa (NYSE:CPA) Lowered to Strong Sell at ValuEngine

ValuEngine lowered shares of Copa (NYSE:CPA) from a sell rating to a strong sell rating in a research note released on Saturday, ValuEngine reports.

CPA has been the subject of several other reports. JPMorgan Chase & Co. lifted their price target on Copa from $105.00 to $130.00 and gave the stock an overweight rating in a report on Wednesday, July 3rd. Evercore ISI raised Copa from an in-line rating to an outperform rating and lifted their price target for the stock from $110.00 to $115.00 in a report on Tuesday, August 27th. Stifel Nicolaus lifted their price target on Copa from $90.00 to $95.00 and gave the stock a hold rating in a report on Thursday, August 8th. Buckingham Research lifted their price target on Copa from $119.00 to $125.00 and gave the stock a buy rating in a report on Thursday, August 8th. Finally, Barclays initiated coverage on Copa in a report on Monday, July 29th. They set an overweight rating and a $122.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $108.50.

NYSE:CPA opened at $95.59 on Friday. The stock has a market cap of $3.92 billion, a P/E ratio of 14.66, a PEG ratio of 0.78 and a beta of 1.36. The stock has a 50 day simple moving average of $101.97 and a 200 day simple moving average of $92.89. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.67. Copa has a 1-year low of $67.38 and a 1-year high of $113.62.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, August 7th. The transportation company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.15. The business had revenue of $645.10 million during the quarter, compared to analysts’ expectations of $625.92 million. Copa had a return on equity of 12.35% and a net margin of 1.59%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.17 EPS. As a group, sell-side analysts forecast that Copa will post 8.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 2.72%. Copa’s dividend payout ratio is presently 39.88%.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPA. Cullen Capital Management LLC raised its holdings in shares of Copa by 228.0% during the 2nd quarter. Cullen Capital Management LLC now owns 65,525 shares of the transportation company’s stock worth $6,393,000 after buying an additional 45,550 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Copa by 27.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 44,700 shares of the transportation company’s stock worth $3,603,000 after buying an additional 9,500 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Copa during the 2nd quarter worth $378,000. Wasatch Advisors Inc. raised its holdings in shares of Copa by 51.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 252,366 shares of the transportation company’s stock worth $24,623,000 after buying an additional 85,289 shares in the last quarter. Finally, RWC Asset Advisors US LLC raised its holdings in shares of Copa by 7.2% during the 2nd quarter. RWC Asset Advisors US LLC now owns 1,263,590 shares of the transportation company’s stock worth $123,288,000 after buying an additional 84,620 shares in the last quarter. 68.88% 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 flights to 81 destinations in 33 countries in North, Central, and South America, as well as the Caribbean. As of April 24, 2019, it operated a fleet of 105 aircraft comprising 6 Boeing 737 MAX9s, 82 Boeing 737NGs, and 17 Embraer-190s aircraft.

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