Copa (NYSE:CPA) Hits New 1-Year High - Here's Why

Key Points

• Copa Holdings reached a new 52-week high of $128.18 with a trading volume of 80,450 shares, following a previous closing of $122.78.
• Multiple analysts have upgraded their ratings for Copa, with Evercore ISI setting a price target of $160.00 and Morgan Stanley increasing it to $145.00, resulting in a consensus target price of $155.33.
• The company reported a net margin of 18.36% and earnings per share of $3.61, outperforming expectations and marking a year-over-year revenue increase of 2.8%.

Copa Holdings, S.A. (NYSE:CPA - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $127.77 and last traded at $128.18, with a volume of 80450 shares. The stock had previously closed at $122.78.

Analyst Ratings Changes

A number of research analysts have commented on the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Copa in a report on Friday, August 8th. Evercore ISI lifted their price objective on shares of Copa from $150.00 to $160.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Morgan Stanley reiterated an "overweight" rating and issued a $145.00 price objective (up previously from $125.00) on shares of Copa in a research note on Monday, August 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of Copa in a research report on Wednesday, October 8th. Finally, TD Cowen increased their price target on Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $155.33.

Copa Stock Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 8.36, a P/E/G ratio of 1.06 and a beta of 1.30. The stock has a fifty day simple moving average of $117.92 and a two-hundred day simple moving average of $107.19.

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

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $1.61 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $6.44 annualized dividend and a dividend yield of 5.0%. Copa's payout ratio is 41.87%.

Hedge Funds Weigh In On Copa

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC bought a new position in Copa in the 3rd quarter valued at approximately $223,000. Focus Financial Network Inc. grew its position in Copa by 10.6% during the 3rd quarter. Focus Financial Network Inc. now owns 2,091 shares of the transportation company's stock worth $248,000 after acquiring an additional 200 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in Copa during the 3rd quarter worth $395,000. Aaron Wealth Advisors LLC grew its position in Copa by 119.2% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 4,647 shares of the transportation company's stock worth $552,000 after acquiring an additional 2,527 shares during the last quarter. Finally, Cullen Capital Management LLC grew its position in Copa by 111.1% during the 2nd quarter. Cullen Capital Management LLC now owns 184,228 shares of the transportation company's stock worth $20,260,000 after acquiring an additional 96,968 shares during the last quarter. Institutional investors own 70.09% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.