Copa (NYSE:CPA) Reaches New 52-Week High - Here's Why

Key Points

• Copa Holdings shares reached a new 52-week high of $119.56 amid strong trading activity, reflecting investor interest in the company.
• Multiple analysts have raised their price targets for Copa, with TD Cowen adjusting its target to $147.00 and Morgan Stanley to $145.00, maintaining favorable ratings for the stock.
• Copa reported a Q2 EPS of $3.61, surpassing analyst expectations and reflecting a 2.8% revenue growth year-over-year, indicating strong financial health.

Shares of Copa Holdings, S.A. (NYSE:CPA - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $119.29 and last traded at $119.56, with a volume of 58638 shares trading hands. The stock had previously closed at $116.93.

Analysts Set New Price Targets

CPA has been the topic of several recent analyst reports. Cowen restated a "buy" rating on shares of Copa in a research report on Friday, August 8th. TD Cowen raised their price objective on shares of Copa from $144.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Raymond James Financial restated a "strong-buy" rating on shares of Copa in a research report on Friday, August 8th. Morgan Stanley restated an "overweight" rating and set a $145.00 price objective (up from $125.00) on shares of Copa in a research report on Monday. Finally, Wall Street Zen upgraded shares of Copa from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $159.40.

Copa Stock Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.04. The company has a market capitalization of $4.80 billion, a P/E ratio of 7.57, a P/E/G ratio of 1.04 and a beta of 1.39. The business's fifty day simple moving average is $109.56 and its 200-day simple moving average is $99.96.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The transportation company reported $3.61 EPS for the quarter, topping analysts' consensus estimates of $3.25 by $0.36. Copa had a net margin of 18.36% and a return on equity of 26.22%. The business had revenue of $842.60 million during the quarter, compared to analysts' expectations of $833.12 million. During the same period last year, the company posted $2.88 EPS. The business's revenue was up 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Copa

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp purchased a new position in shares of Copa in the 2nd quarter worth $25,000. Montag A & Associates Inc. purchased a new position in shares of Copa during the 1st quarter worth about $30,000. Bayforest Capital Ltd purchased a new position in shares of Copa during the 1st quarter worth about $36,000. US Bancorp DE boosted its stake in shares of Copa by 378.1% during the 1st quarter. US Bancorp DE now owns 502 shares of the transportation company's stock worth $46,000 after purchasing an additional 397 shares during the period. Finally, Quarry LP purchased a new position in shares of Copa during the 1st quarter worth about $50,000. 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.