Copa (NYSE:CPA) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Copa from “Buy” to “Hold,” although the broader analyst consensus remains “Buy” with a $173.20 target price.
• Copa’s latest quarterly results missed expectations, reporting $1.67 in EPS versus $1.88 expected and $1.06 billion in revenue versus a $1.08 billion estimate; revenue nevertheless rose 25.7% year over year.
• The stock opened at $135.61, down 0.6%, with a 12-month range of $107.44 to $160.46, while institutional investors own approximately 70.09% of outstanding shares.

Copa (NYSE:CPA - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

CPA has been the topic of a number of other research reports. The Goldman Sachs Group increased their price objective on shares of Copa from $138.00 to $156.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Raymond James Financial boosted their target price on shares of Copa from $190.00 to $195.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 14th. Evercore restated an "outperform" rating and issued a $175.00 target price on shares of Copa in a research report on Friday, May 15th. Weiss Ratings restated a "buy (b)" rating on shares of Copa in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on Copa from $165.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $173.20.

Copa Trading Down 0.6%

NYSE:CPA opened at $135.61 on Friday. The firm has a market capitalization of $5.58 billion, a P/E ratio of 8.92, a P/E/G ratio of 1.18 and a beta of 1.01. The business has a 50 day simple moving average of $144.49 and a 200 day simple moving average of $134.12. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 1.06. Copa has a 12-month low of $107.44 and a 12-month high of $160.46.

Copa (NYSE:CPA - Get Free Report) last posted its earnings results on Saturday, August 8th. The transportation company reported $1.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.21). Copa had a net margin of 15.71% and a return on equity of 22.40%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business posted $3.61 earnings per share. The business's quarterly revenue was up 25.7% compared to the same quarter last year. Equities research analysts predict that Copa will post 16.28 EPS for the current year.

Institutional Trading of Copa

A number of hedge funds and other institutional investors have recently made changes to their positions in CPA. Cullen Capital Management LLC acquired a new stake in shares of Copa in the 2nd quarter worth approximately $88,871,000. Globeflex Capital L P acquired a new position in shares of Copa during the second quarter valued at approximately $13,579,000. Elevation Wealth Partners LLC raised its holdings in Copa by 240.8% during the second quarter. Elevation Wealth Partners LLC now owns 167 shares of the transportation company's stock worth $26,000 after purchasing an additional 118 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Copa during the second quarter worth approximately $1,036,000. Finally, Quad Cities Investment Group LLC lifted its position in Copa by 1.8% in the second quarter. Quad Cities Investment Group LLC now owns 8,502 shares of the transportation company's stock worth $1,323,000 after purchasing an additional 152 shares during the period. 70.09% of the stock is currently owned by institutional investors.

Copa Company Profile

Copa Holdings, SA NYSE: CPA is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.

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