Copa (NYSE:CPA) Earns "Overweight" Rating from Morgan Stanley

Key Points

• Morgan Stanley raised the price target for Copa Holdings from $125.00 to $145.00, indicating a potential upside of 22.47% based on its previous close.
• Copa has received multiple upgrades from analysts, with six rating the stock as a buy and one as a strong buy, suggesting strong market confidence.
• The company reported a quarterly earnings per share (EPS) of $3.61, surpassing the consensus estimate and showing a year-over-year revenue increase of 2.8%.

Copa (NYSE:CPA - Get Free Report)'s stock had its "overweight" rating reaffirmed by analysts at Morgan Stanley in a research note issued to investors on Monday, MarketBeat.com reports. They presently have a $145.00 price target on the transportation company's stock, up from their prior price target of $125.00. Morgan Stanley's price target suggests a potential upside of 23.04% from the company's previous close.

CPA has been the subject of several other reports. Wall Street Zen upgraded Copa from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. TD Cowen upped their price target on shares of Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a report on Friday. Raymond James Financial reiterated a "strong-buy" rating on shares of Copa in a report on Friday. Finally, Cowen reaffirmed a "buy" rating on shares of Copa in a research note on Friday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $159.40.

Copa Price Performance

Shares of Copa stock traded up $0.09 during trading on Monday, hitting $117.85. The stock had a trading volume of 104,034 shares, compared to its average volume of 321,579. Copa has a fifty-two week low of $82.54 and a fifty-two week high of $119.01. The firm has a market cap of $4.85 billion, a P/E ratio of 7.66, a PEG 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 business has a fifty day moving average of $108.68 and a two-hundred day moving average of $99.34.

Copa (NYSE:CPA - Get Free Report) last posted its earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.25 by $0.36. The firm had revenue of $842.60 million during the quarter, compared to analysts' expectations of $833.12 million. Copa had a return on equity of 26.69% and a net margin of 18.36%. The company's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 earnings per share. On average, sell-side analysts expect that Copa will post 15.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Copa

Institutional investors have recently made changes to their positions in the stock. LPL Financial LLC raised its position in Copa by 4.3% in the 4th quarter. LPL Financial LLC now owns 3,204 shares of the transportation company's stock valued at $282,000 after purchasing an additional 132 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Copa during the 4th quarter valued at about $225,000. Russell Investments Group Ltd. grew its holdings in shares of Copa by 3.2% during the fourth quarter. Russell Investments Group Ltd. now owns 12,550 shares of the transportation company's stock worth $1,103,000 after buying an additional 393 shares in the last quarter. FMR LLC grew its holdings 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 buying an additional 230,653 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Copa by 37.1% in the fourth quarter. Invesco Ltd. now owns 12,276 shares of the transportation company's stock worth $1,079,000 after acquiring an additional 3,320 shares during the last quarter. 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.