Copa (NYSE:CPA) Sets New 1-Year High - Here's What Happened

Copa Holdings, S.A. (NYSE:CPA - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company 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.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CPA shares. Cowen reissued a "buy" rating on shares of Copa in a report on Wednesday, May 14th. Wall Street Zen raised Copa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Copa currently has an average rating of "Buy" and an average target price of $153.00.

Copa Price Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.88 and a current ratio of 0.99. The stock has a market capitalization of $4.55 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 0.78 and a beta of 1.31. The stock has a 50-day simple moving average of $105.61 and a 200 day simple moving average of $96.39.

Copa (NYSE:CPA - Get Free Report) last announced 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. The firm had revenue of $899.18 million during the quarter, compared to analyst estimates of $888.82 million. Copa had a return on equity of 25.91% and a net margin of 17.66%. The company's revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $4.19 earnings per share. On average, equities 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 dividend of $1.61 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $6.44 annualized dividend and a dividend yield of 5.83%. Copa's payout ratio is currently 43.96%.

Hedge Funds Weigh In On Copa

Several institutional investors have recently modified their holdings of CPA. Montag A & Associates Inc. bought a new position in shares of Copa during the 1st quarter valued at about $30,000. Bayforest Capital Ltd bought a new position in shares of Copa during the 1st quarter valued at about $36,000. US Bancorp DE lifted its holdings in shares of Copa by 378.1% during the 1st quarter. US Bancorp DE now owns 502 shares of the transportation company's stock valued at $46,000 after purchasing an additional 397 shares in the last quarter. Quarry LP bought a new position in shares of Copa during the 1st quarter valued at about $50,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Copa by 8,175.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the transportation company's stock valued at $61,000 after purchasing an additional 654 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

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.