Copa Holdings, S.A. $CPA Shares Sold by JPMorgan Chase & Co.

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. reduced its stake in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 7.1% during the 1st quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. LPL Financial LLC increased its position in shares of Copa by 4.3% in the fourth quarter. LPL Financial LLC now owns 3,204 shares of the transportation company's stock valued at $282,000 after buying an additional 132 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of Copa by 1.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 16,060 shares of the transportation company's stock valued at $1,411,000 after buying an additional 169 shares in the last quarter. Montag A & Associates Inc. purchased a new position in shares of Copa in the first quarter valued at $30,000. Signet Financial Management LLC increased its position in shares of Copa by 14.3% in the first quarter. Signet Financial Management LLC now owns 2,635 shares of the transportation company's stock valued at $244,000 after buying an additional 329 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in shares of Copa in the first quarter valued at $36,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Copa Price Performance

CPA stock traded down $1.03 during trading on Monday, hitting $116.25. The stock had a trading volume of 105,650 shares, compared to its average volume of 325,241. The company's 50 day moving average price is $109.75 and its two-hundred day moving average price is $100.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.04. Copa Holdings, S.A. has a 1-year low of $82.54 and a 1-year high of $121.63. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 1.03 and a beta of 1.39.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.25 by $0.36. Copa had a return on equity of 26.22% and a net margin of 18.36%. The firm had revenue of $842.60 million for the quarter, compared to analyst estimates of $833.12 million. During the same period last year, the company earned $2.88 EPS. The firm's quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.