Sprucegrove Investment Management Ltd. Has $284.73 Million Position in Copa Holdings, S.A. $CPA

Key Points

• Sprucegrove Investment Management Ltd. has reduced its stake in Copa Holdings by 7.8%, now holding 3,079,532 shares worth approximately $284.73 million, making it their second-largest position.
• Copa Holdings recently posted quarterly earnings of $3.61 per share, surpassing estimates, and reported a 2.8% year-over-year increase in revenue, totaling $842.60 million.
• Wall Street analysts have a consensus rating of "Buy" for Copa stock, with a target price averaging $159.40, indicating strong investor confidence in the company's growth potential.

Sprucegrove Investment Management Ltd. cut its stake in shares of Copa Holdings, S.A. (NYSE:CPA - Free Report) by 7.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,079,532 shares of the transportation company's stock after selling 260,055 shares during the period. Copa accounts for approximately 24.5% of Sprucegrove Investment Management Ltd.'s holdings, making the stock its 2nd biggest holding. Sprucegrove Investment Management Ltd. owned approximately 7.33% of Copa worth $284,734,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Ethic Inc. grew its stake in shares of Copa by 0.7% during the 1st quarter. Ethic Inc. now owns 57,715 shares of the transportation company's stock valued at $5,266,000 after buying an additional 403 shares during the period. Brandywine Global Investment Management LLC raised its stake in Copa by 1.2% during the first quarter. Brandywine Global Investment Management LLC now owns 120,510 shares of the transportation company's stock worth $11,142,000 after acquiring an additional 1,400 shares during the period. Dimensional Fund Advisors LP raised its stake in Copa by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,184,278 shares of the transportation company's stock worth $109,501,000 after acquiring an additional 99,955 shares during the period. Fox Run Management L.L.C. bought a new position in Copa in the 1st quarter worth about $1,476,000. Finally, FCA Corp TX bought a new position in shares of Copa in the first quarter valued at approximately $277,000. 70.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Copa Price Performance

Shares of Copa stock traded down $0.58 during trading on Thursday, hitting $113.89. 76,875 shares of the company's stock traded hands, compared to its average volume of 325,973. 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 firm's fifty day moving average price is $110.23 and its 200 day moving average price is $100.57. Copa Holdings, S.A. has a twelve month low of $82.54 and a twelve month high of $121.63. The company has a market cap of $4.69 billion, a PE ratio of 7.39, a PEG ratio of 1.01 and a beta of 1.39.

Copa (NYSE:CPA - Get Free Report) last issued 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. Copa had a net margin of 18.36% and a return on equity of 26.22%. The business had revenue of $842.60 million for the quarter, compared to analyst estimates of $833.12 million. During the same period in the previous year, the business earned $2.88 EPS. The firm's revenue was up 2.8% on a year-over-year basis. Analysts forecast that Copa Holdings, S.A. will post 15.48 earnings per share for the current 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.