Copa Holdings, S.A. (NYSE:CPA) Upgraded to Buy at Zacks Investment Research
Copa Holdings, S.A. (NYSE:CPA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $139.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.34% from the company’s previous close.
According to Zacks, “Copa Holdings, through its Copa Airlines and AeroRepublica operating subsidiaries, is a leading Latin American provider of passenger and cargo service. Copa Airlines currently offers daily scheduled flights to destinations in countries like North, Central and South America and the Caribbean. “
A number of other brokerages have also recently weighed in on CPA. ValuEngine raised shares of Copa Holdings, from a “hold” rating to a “buy” rating in a report on Friday, May 19th. BidaskClub cut shares of Copa Holdings, from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $100.38.
Copa Holdings, (NYSE:CPA) traded up 0.87% on Tuesday, reaching $124.84. 608,048 shares of the company’s stock were exchanged. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 16.47 and a beta of 1.79. Copa Holdings, has a 1-year low of $55.13 and a 1-year high of $126.79. The stock’s 50 day moving average price is $114.07 and its 200 day moving average price is $106.82.
Copa Holdings, (NYSE:CPA) last issued its earnings results on Wednesday, May 10th. The transportation company reported $2.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.09. The company had revenue of $616.70 million for the quarter, compared to analysts’ expectations of $621.16 million. Copa Holdings, had a net margin of 14.32% and a return on equity of 13.23%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.66 earnings per share. On average, analysts expect that Copa Holdings, will post $8.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were given a dividend of $0.51 per share. The ex-dividend date was Friday, May 26th. This represents a $2.04 annualized dividend and a dividend yield of 1.63%. Copa Holdings,’s dividend payout ratio (DPR) is 26.46%.
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Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Copa Holdings, during the fourth quarter valued at $12,897,000. UBS Asset Management Americas Inc. boosted its position in shares of Copa Holdings, by 715.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 30,913 shares of the transportation company’s stock valued at $2,808,000 after buying an additional 27,120 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of Copa Holdings, by 223.7% in the fourth quarter. Quadrature Capital Ltd now owns 9,217 shares of the transportation company’s stock valued at $837,000 after buying an additional 6,370 shares during the last quarter. Oxford Asset Management boosted its position in shares of Copa Holdings, by 99.6% in the first quarter. Oxford Asset Management now owns 28,878 shares of the transportation company’s stock valued at $3,242,000 after buying an additional 14,409 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of Copa Holdings, by 6.8% in the first quarter. Artisan Partners Limited Partnership now owns 91,701 shares of the transportation company’s stock valued at $10,293,000 after buying an additional 5,802 shares during the last quarter. Institutional investors own 69.69% of the company’s stock.
About Copa Holdings,
Copa Holdings, SA is a provider of airline passenger and cargo service through its principal operating subsidiaries, Compania Panamena de Aviacion, S. A. (Copa Airlines) and AeroRepublica, S. A. (Copa Colombia). The Company operates through air transportation segment. Copa Airlines operates from its position located in the Republic of Panama.
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