Copa (NYSE:CPA) Sets New 12-Month High - Should You Buy?

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) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $114.28 and last traded at $113.17, with a volume of 385008 shares trading hands. The stock had previously closed at $110.16.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Copa from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Cowen restated a "buy" rating on shares of Copa in a research note on Wednesday, May 14th. Finally, Raymond James Financial lifted their price objective on Copa from $145.00 to $147.00 and gave the company a "strong-buy" rating in a research note on Wednesday, July 23rd. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $152.00.

Copa Trading Up 2.0%

The stock has a 50 day simple moving average of $108.29 and a 200-day simple moving average of $98.80. The firm has a market capitalization of $4.63 billion, a P/E ratio of 7.67, a P/E/G ratio of 0.78 and a beta of 1.39. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.56.

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

Copa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, May 30th. Copa's payout ratio is currently 43.96%.

Institutional Trading of Copa

Several institutional investors have recently made changes to their positions in CPA. Captrust Financial Advisors grew its position in shares of Copa by 4,063.6% during the fourth quarter. Captrust Financial Advisors now owns 542,601 shares of the transportation company's stock worth $47,684,000 after purchasing an additional 529,569 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Copa during the fourth quarter worth about $46,433,000. Canada Pension Plan Investment Board purchased a new stake in shares of Copa during the fourth quarter worth about $40,311,000. Millennium Management LLC grew its position in shares of Copa by 1,279.2% during the fourth quarter. Millennium Management LLC now owns 324,235 shares of the transportation company's stock worth $28,494,000 after purchasing an additional 300,726 shares in the last quarter. Finally, FMR LLC grew its position in shares of Copa by 18.1% during the fourth quarter. FMR LLC now owns 1,503,772 shares of the transportation company's stock worth $132,151,000 after purchasing an additional 230,653 shares in the last quarter. 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.

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