Copa (NYSE:CPA) Hits New 12-Month High - Still a Buy?

Shares of Copa Holdings, S.A. (NYSE:CPA - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $113.13 and last traded at $113.17, with a volume of 81029 shares traded. The stock had previously closed at $108.71.

Analyst Ratings Changes

Several analysts have commented on the stock. Cowen reaffirmed a "buy" rating on shares of Copa in a research note on Wednesday, May 14th. Wall Street Zen raised shares of Copa from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $153.00.

Copa Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $4.55 billion, a PE ratio of 7.54, a PEG ratio of 0.77 and a beta of 1.31. The company's 50 day moving average price is $105.29 and its 200-day moving average price is $96.13.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The transportation company reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $3.77 by $0.51. Copa had a return on equity of 25.91% and a net margin of 17.66%. The company had revenue of $899.18 million for the quarter, compared to analysts' expectations of $888.82 million. During the same quarter in the previous year, the firm posted $4.19 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Friday, May 30th. Copa's payout ratio is 43.96%.

Institutional Investors Weigh In On Copa

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp raised its stake in Copa by 19.7% during the fourth quarter. Northern Trust Corp now owns 20,850 shares of the transportation company's stock valued at $1,832,000 after buying an additional 3,433 shares in the last quarter. Range Financial Group LLC raised its position in shares of Copa by 34.8% during the 1st quarter. Range Financial Group LLC now owns 16,652 shares of the transportation company's stock worth $1,540,000 after purchasing an additional 4,297 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in shares of Copa during the 4th quarter worth approximately $244,000. Bridgewater Associates LP acquired a new stake in shares of Copa during the 4th quarter worth approximately $961,000. Finally, Invesco Ltd. raised its position in shares of Copa by 37.1% during the 4th quarter. Invesco Ltd. now owns 12,276 shares of the transportation company's stock worth $1,079,000 after purchasing an additional 3,320 shares during the period. Hedge funds and other institutional investors own 70.09% of the company's stock.

Copa Company Profile

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.