JPMorgan Chase & Co. Sells 187,695 Shares of Copa Holdings, S.A. (NYSE:CPA)

Key Points

• JPMorgan Chase & Co. reduced its stake in Copa Holdings by 7.1% in the first quarter, now holding approximately 2.44 million shares valued at $225.69 million.
• Copa reported quarterly earnings of $3.61 per share, exceeding estimates of $3.25, along with a revenue of $842.60 million, surpassing expectations of $833.12 million.
• Wall Street analysts are optimistic, with several firms issuing "buy" or "strong-buy" ratings and target prices for Copa shares ranging from $145.00 to $159.40.

JPMorgan Chase & Co. decreased its holdings in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,440,914 shares of the transportation company's stock after selling 187,695 shares during the period. JPMorgan Chase & Co. owned approximately 5.81% of Copa worth $225,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Montag A & Associates Inc. acquired a new position in shares of Copa in the first quarter worth about $30,000. Bayforest Capital Ltd acquired a new position in shares of Copa in the first quarter worth about $36,000. US Bancorp DE boosted its holdings in shares of Copa by 378.1% in the first quarter. US Bancorp DE now owns 502 shares of the transportation company's stock worth $46,000 after buying an additional 397 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of Copa by 2,813.9% in the first quarter. SBI Securities Co. Ltd. now owns 1,049 shares of the transportation company's stock worth $97,000 after buying an additional 1,013 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Copa in the fourth quarter worth about $225,000. Institutional investors own 70.09% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $145.00 target price (up from $125.00) on shares of Copa in a report on Monday. Raymond James Financial reiterated a "strong-buy" rating on shares of Copa in a report on Friday, August 8th. TD Cowen raised their target price on shares of Copa from $144.00 to $147.00 and gave the stock a "buy" rating 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. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $159.40.

Copa Stock Up 0.7%

Shares of CPA stock traded up $0.78 during trading on Friday, hitting $117.27. 383,766 shares of the company were exchanged, compared to its average volume of 344,819. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.04. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 1.02 and a beta of 1.39. The business's 50-day simple moving average is $109.75 and its 200 day simple moving average is $100.13. Copa Holdings, S.A. has a twelve month low of $82.54 and a twelve month high of $121.63.

Copa (NYSE:CPA - Get Free Report) last issued its quarterly earnings data 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 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%. The company's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 earnings per share. As a group, analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

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.