Copa Holdings, S.A. $CPA Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in Copa Holdings, S.A. by 12.2%, now holding 18,544 shares valued at $1,715,000.
• Analysts have a consensus buy rating for Copa, with price targets ranging from $145.00 to $159.40.
• Copa reported $3.61 EPS for the last quarter, exceeding estimates, with a revenue of $842.60 million, marking a 2.8% increase year-over-year.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 12.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 18,544 shares of the transportation company's stock after selling 2,580 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Copa were worth $1,715,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Montag A & Associates Inc. acquired a new position in Copa during the first quarter worth $30,000. Bayforest Capital Ltd acquired a new position in Copa during the first quarter worth $36,000. US Bancorp DE raised its position in Copa by 378.1% during the first quarter. US Bancorp DE now owns 502 shares of the transportation company's stock worth $46,000 after acquiring an additional 397 shares during the period. SBI Securities Co. Ltd. raised its position in Copa by 2,813.9% during the first quarter. SBI Securities Co. Ltd. now owns 1,049 shares of the transportation company's stock worth $97,000 after acquiring an additional 1,013 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new position in Copa during the fourth quarter worth $225,000. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CPA. Morgan Stanley reaffirmed an "overweight" rating and set a $145.00 target price (up previously from $125.00) on shares of Copa in a report on Monday, August 11th. TD Cowen boosted their price objective on shares of Copa from $144.00 to $147.00 and gave the company a "buy" rating in a report on Friday, August 8th. Raymond James Financial restated a "strong-buy" rating on shares of Copa in a report on Friday, August 8th. Wall Street Zen upgraded shares of Copa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Cowen restated a "buy" rating on shares of Copa in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, Copa presently has a consensus rating of "Buy" and a consensus target price of $159.40.

Copa Stock Performance

Shares of NYSE:CPA traded down $0.29 during trading on Wednesday, reaching $114.76. The company had a trading volume of 182,793 shares, compared to its average volume of 326,122. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 1.02 and a beta of 1.39. 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 stock's fifty day moving average price is $110.07 and its 200 day moving average price is $100.47. Copa Holdings, S.A. has a fifty-two week low of $82.54 and a fifty-two week high of $121.63.

Copa (NYSE:CPA - Get Free Report) last released 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 business had revenue of $842.60 million for the quarter, compared to analyst estimates of $833.12 million. Copa had a return on equity of 26.22% and a net margin of 18.36%.The company's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.88 earnings per share. As a group, equities research analysts predict that Copa Holdings, S.A. will post 15.48 EPS for the current year.

About Copa

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.