Connor Clark & Lunn Investment Management Ltd. Sells 2,580 Shares of Copa Holdings, S.A. $CPA

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 holdings in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 12.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CPA. LPL Financial LLC raised its position in Copa by 4.3% in the fourth quarter. LPL Financial LLC now owns 3,204 shares of the transportation company's stock worth $282,000 after acquiring an additional 132 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Copa during the 4th quarter valued at $225,000. Russell Investments Group Ltd. raised its position in shares of Copa by 3.2% during the 4th quarter. Russell Investments Group Ltd. now owns 12,550 shares of the transportation company's stock valued at $1,103,000 after purchasing an additional 393 shares during the period. Invesco Ltd. raised its position in shares of Copa by 37.1% during the 4th quarter. Invesco Ltd. now owns 12,276 shares of the transportation company's stock valued at $1,079,000 after purchasing an additional 3,320 shares during the period. Finally, XTX Topco Ltd raised its position in shares of Copa by 51.7% during the 4th quarter. XTX Topco Ltd now owns 3,701 shares of the transportation company's stock valued at $325,000 after purchasing an additional 1,262 shares during the period. 70.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CPA. Wall Street Zen upgraded shares of Copa from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. TD Cowen raised their price objective on shares of Copa from $144.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Raymond James Financial restated a "strong-buy" rating on shares of Copa in a research report on Friday, August 8th. Morgan Stanley restated an "overweight" rating and set a $145.00 price objective (up from $125.00) on shares of Copa in a research report on Monday, August 11th. Finally, Cowen restated a "buy" rating on shares of Copa in a research 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, the stock presently has a consensus rating of "Buy" and an average price target of $159.40.

Copa Price Performance

CPA traded down $0.6940 during trading on Thursday, hitting $113.7760. 284,260 shares of the company traded hands, compared to its average volume of 373,792. The company has a market cap of $4.68 billion, a PE ratio of 7.40, a P/E/G ratio of 1.00 and a beta of 1.39. The stock's 50-day simple moving average is $110.37 and its two-hundred day simple moving average is $100.73. Copa Holdings, S.A. has a 1 year low of $82.54 and a 1 year high of $121.63. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Copa (NYSE:CPA - Get Free Report) last posted its earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.36. The company had revenue of $842.60 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the company posted $2.88 earnings per share. As a group, sell-side analysts anticipate that Copa Holdings, S.A. will post 15.48 earnings per share for the current fiscal year.

Copa 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.