Copa (NYSE:CPA) Issues Earnings Results

Copa (NYSE:CPA) released its quarterly earnings data on Wednesday. The transportation company reported $4.20 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.17, Zacks reports. Copa had a return on equity of 26.22% and a net margin of 18.36%.

Copa Price Performance

Shares of Copa stock traded up $3.05 during trading on Wednesday, reaching $126.26. The company’s stock had a trading volume of 269,986 shares, compared to its average volume of 297,643. The stock has a 50-day moving average price of $122.64 and a two-hundred day moving average price of $114.05. The stock has a market capitalization of $5.20 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Copa has a one year low of $82.54 and a one year high of $130.00.

Analyst Upgrades and Downgrades

Several analysts recently commented on CPA shares. Raymond James Financial set a $164.00 price target on Copa and gave the company a “strong-buy” rating in a research note on Monday, November 3rd. Citigroup reduced their target price on shares of Copa from $159.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. TD Cowen upped their target price on shares of Copa from $144.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Evercore ISI lifted their price target on shares of Copa from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Finally, Morgan Stanley restated an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Copa in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $157.67.

Hedge Funds Weigh In On Copa

A number of institutional investors have recently modified their holdings of CPA. Squarepoint Ops LLC bought a new position in Copa in the 3rd quarter valued at $308,000. Banco BTG Pactual S.A. acquired a new position in shares of Copa during the third quarter valued at $421,000. Private Advisor Group LLC boosted its holdings in Copa by 5.8% in the third quarter. Private Advisor Group LLC now owns 2,158 shares of the transportation company’s stock valued at $256,000 after acquiring an additional 119 shares during the last quarter. Merit Financial Group LLC bought a new position in Copa in the third quarter valued at about $208,000. Finally, Nomura Holdings Inc. acquired a new stake in Copa in the second quarter worth about $539,000. 70.09% of the stock is owned by 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.