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

Copa Holdings, S.A. (NYSE:CPA - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $110.83 and last traded at $110.47, with a volume of 169556 shares. The stock had previously closed at $109.10.

Analysts Set New Price Targets

A number of analysts have weighed in on CPA shares. Cowen reissued a "buy" rating on shares of Copa in a report on Wednesday, May 14th. Wall Street Zen upgraded shares of Copa from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $153.00.

Copa Price Performance

The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 7.59, a P/E/G ratio of 0.78 and a beta of 1.31. The company has a fifty day moving average price of $102.48 and a two-hundred day moving average price of $95.05.

Copa (NYSE:CPA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The transportation company reported $4.28 EPS for the quarter, beating the consensus estimate of $3.77 by $0.51. The business had revenue of $899.18 million during the quarter, compared to analysts' expectations of $888.82 million. Copa had a return on equity of 25.91% and a net margin of 17.66%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $4.19 EPS. On average, equities research analysts expect that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Copa Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date was Friday, May 30th. Copa's dividend payout ratio is presently 43.96%.

Hedge Funds Weigh In On Copa

Several institutional investors have recently added to or reduced their stakes in CPA. JPMorgan Chase & Co. grew its holdings in Copa by 0.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,628,609 shares of the transportation company's stock valued at $231,002,000 after buying an additional 11,300 shares during the period. FMR LLC grew its holdings in Copa by 18.1% in the fourth quarter. FMR LLC now owns 1,503,772 shares of the transportation company's stock valued at $132,151,000 after purchasing an additional 230,653 shares during the period. Dimensional Fund Advisors LP increased its position in Copa by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company's stock worth $109,501,000 after purchasing an additional 99,955 shares during the last quarter. Carrhae Capital LLP increased its position in Copa by 10.8% during the first quarter. Carrhae Capital LLP now owns 777,929 shares of the transportation company's stock worth $71,927,000 after purchasing an additional 76,062 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in Copa by 8.6% during the fourth quarter. Brandes Investment Partners LP now owns 561,901 shares of the transportation company's stock worth $49,380,000 after purchasing an additional 44,298 shares during the period. 70.09% of the stock is currently owned by institutional investors and hedge funds.

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.

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