Copa (NYSE:CPA) Reaches New 52-Week High - Here's What Happened

Key Points

• Copa Holdings, S.A. (NYSE:CPA) shares hit a new 52-week high at $114.28, closing at $113.17 with substantial trading volume.
• Wall Street analysts have shown strong support for the stock, with the average rating being "Buy" and a price target of $152.00.
• The company reported $4.28 EPS for the last quarter, exceeding estimates, and declared a quarterly dividend of $1.61, reflecting a 5.7% yield.

Copa Holdings, S.A. (NYSE:CPA - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $114.28 and last traded at $113.17, with a volume of 385008 shares changing hands. The stock had previously closed at $110.16.

Wall Street Analysts Forecast Growth

CPA has been the subject of a number of research analyst reports. Raymond James Financial raised their price objective on Copa from $147.00 to $150.00 and gave the company a "strong-buy" rating in a research report on Friday. Wall Street Zen upgraded Copa from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Cowen reiterated a "buy" rating on shares of Copa in a research report on Wednesday, May 14th. Finally, TD Cowen lifted their price target on Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $163.00.

Copa Trading Up 1.3%

The company has a market cap of $4.85 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 1.03 and a beta of 1.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.99 and a quick ratio of 0.88. The company has a 50-day moving average of $108.68 and a 200 day moving average of $99.34.

Copa (NYSE:CPA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The transportation company reported $3.61 EPS for the quarter, topping the consensus estimate of $3.25 by $0.36. Copa had a return on equity of 26.69% and a net margin of 18.36%. The company had revenue of $842.60 million during the quarter, compared to analyst estimates of $833.12 million. During the same quarter last year, the business posted $2.88 earnings per share. The firm's revenue was up 2.8% on a year-over-year basis. Analysts predict that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Letko Brosseau & Associates Inc. boosted its position in shares of Copa by 0.7% during the second quarter. Letko Brosseau & Associates Inc. now owns 186,803 shares of the transportation company's stock valued at $20,543,000 after buying an additional 1,325 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Copa during the second quarter valued at approximately $770,000. Cetera Investment Advisers boosted its position in shares of Copa by 138.5% during the second quarter. Cetera Investment Advisers now owns 19,675 shares of the transportation company's stock valued at $2,164,000 after buying an additional 11,427 shares during the period. SG Americas Securities LLC boosted its position in shares of Copa by 152.9% during the second quarter. SG Americas Securities LLC now owns 3,870 shares of the transportation company's stock valued at $426,000 after buying an additional 2,340 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Copa by 9.4% during the second quarter. PNC Financial Services Group Inc. now owns 2,964 shares of the transportation company's stock valued at $326,000 after buying an additional 255 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.