Copa (NYSE:CPA) Sets New 12-Month High - Time to Buy?

Key Points

• Copa Holdings shares hit a new 52-week high at $123.71, indicating positive market sentiment and potential investment opportunities.
• Analysts have upgraded their ratings, with target prices reaching as high as $155.33, reflecting strong growth forecasts for the company.
• Copa recently announced a quarterly dividend of $1.61 per share, yielding 5.2%, suggesting attractive returns for shareholders.

Copa Holdings, S.A. (NYSE:CPA - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $123.08 and last traded at $123.71, with a volume of 93847 shares traded. The stock had previously closed at $120.55.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CPA. TD Cowen boosted their price objective on shares of Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Copa in a research note on Friday, August 8th. Morgan Stanley reiterated an "overweight" rating and set a $145.00 target price (up from $125.00) on shares of Copa in a research note on Monday, August 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of Copa in a research note on Wednesday. Finally, Wall Street Zen raised Copa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, Copa presently has an average rating of "Buy" and an average price target of $155.33.

Copa Stock Performance

The firm's fifty day simple moving average is $116.85 and its 200 day simple moving average is $106.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.93. The company has a market capitalization of $5.14 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.06 and a beta of 1.30.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share for the quarter, beating analysts' consensus estimates of $3.25 by $0.36. The firm had revenue of $842.60 million for the quarter, compared to analyst estimates of $833.12 million. Copa had a net margin of 18.36% and a return on equity of 26.22%. Copa's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $2.88 EPS. On average, research analysts predict that Copa Holdings, S.A. will post 15.48 EPS for the current year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, August 29th. Copa's payout ratio is 41.87%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp purchased a new stake in shares of Copa in the second quarter valued at about $25,000. Montag A & Associates Inc. purchased a new position in Copa in the 1st quarter worth approximately $30,000. Bayforest Capital Ltd purchased a new position in Copa in the 1st quarter worth approximately $36,000. US Bancorp DE boosted its stake 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 buying an additional 397 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Copa during the 1st quarter valued at approximately $50,000. 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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