Zacks Investment Research Downgrades CATHAY PAC AIRW/S (OTCMKTS:CPCAY) to Sell

CATHAY PAC AIRW/S (OTCMKTS:CPCAY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, reports.

According to Zacks, “CATHAY PACIFIC AIRWAY’s principal activity is the operation of an international airline based and registered in Hong Kong. Other activities include airline catering, aircraft handling and engineering. The Group offers scheduled passenger and cargo services to 62 destinations around the world. It operates in Hong Kong, Mainland China, Japan, Korea, Taiwan, South East Asia, Middle East, Europe, Pacific and South Africa. “

Separately, Morgan Stanley cut shares of CATHAY PAC AIRW/S from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 22nd.

CPCAY traded up $0.19 during midday trading on Friday, hitting $6.90. The company had a trading volume of 34,179 shares, compared to its average volume of 13,253. The company has a market capitalization of $5.24 billion, a PE ratio of 18.16, a P/E/G ratio of 8.67 and a beta of 0.98. CATHAY PAC AIRW/S has a twelve month low of $5.97 and a twelve month high of $8.97. The firm’s 50-day simple moving average is $6.71 and its 200-day simple moving average is $7.65.

CATHAY PAC AIRW/S Company Profile

Cathay Pacific Airways Limited, together with its subsidiaries, operates as an airline that provides scheduled passenger and cargo services to approximately 200 destinations in Asia, North America, Australia, Europe, and Africa. It operates in two segments, Airline Business and Non-Airline Business. The company conducts airline operations principally to and from Hong Kong.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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