Investors Buy High Volume of Copa Call Options (NYSE:CPA)

Copa Holdings, S.A. (NYSE:CPA) was the target of some unusual options trading activity on Thursday. Stock traders bought 811 call options on the stock. This represents an increase of approximately 1,208% compared to the typical volume of 62 call options.

Shares of Copa stock traded down $1.70 during trading on Friday, hitting $107.05. The stock had a trading volume of 9,525 shares, compared to its average volume of 272,630. The firm’s fifty day simple moving average is $101.71 and its 200-day simple moving average is $98.17. The stock has a market cap of $4.59 billion, a PE ratio of 16.42, a PEG ratio of 0.88 and a beta of 1.30. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.96 and a quick ratio of 0.87. Copa has a 12 month low of $68.50 and a 12 month high of $116.88.

Copa (NYSE:CPA) last released its earnings results on Wednesday, November 13th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Copa had a net margin of 1.59% and a return on equity of 12.35%. The firm had revenue of $708.21 million during the quarter, compared to analyst estimates of $698.59 million. During the same quarter last year, the business earned $1.36 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Analysts expect that Copa will post 7.54 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Investors Research Corp bought a new stake in Copa during the 2nd quarter valued at about $29,000. Point72 Hong Kong Ltd purchased a new position in Copa during the 2nd quarter valued at about $57,000. Cerebellum GP LLC purchased a new position in Copa during the 3rd quarter valued at about $126,000. Ladenburg Thalmann Financial Services Inc. increased its position in Copa by 8.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,398 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 103 shares during the period. Finally, Quantamental Technologies LLC purchased a new position in Copa during the 2nd quarter valued at about $165,000. Institutional investors own 68.95% of the company’s stock.

Several research firms have commented on CPA. Buckingham Research increased their price objective on shares of Copa from $119.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Raymond James upgraded shares of Copa from a “market perform” rating to an “outperform” rating and set a $127.00 target price for the company in a report on Friday, August 9th. Evercore ISI upgraded shares of Copa from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $110.00 to $115.00 in a report on Tuesday, August 27th. Zacks Investment Research lowered shares of Copa from a “buy” rating to a “sell” rating and set a $106.00 target price for the company. in a report on Wednesday, October 9th. Finally, ValuEngine lowered shares of Copa from a “sell” rating to a “strong sell” rating in a report on Saturday, September 14th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Copa currently has a consensus rating of “Hold” and an average price target of $109.09.

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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