Bank of America Cuts Copa (NYSE:CPA) Price Target to $171.00

Copa (NYSE:CPA) had its price target lowered by Bank of America from $212.00 to $171.00 in a report released on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on CPA. JPMorgan Chase & Co. dropped their target price on shares of Copa from $170.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Copa in a research note on Wednesday, January 21st. Citigroup lowered their price target on Copa from $155.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday. Wall Street Zen downgraded Copa from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Barclays lifted their price objective on Copa from $150.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.44.

Copa Price Performance

Shares of NYSE:CPA opened at $109.07 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.20 and a current ratio of 1.31. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 0.81 and a beta of 0.89. The business has a 50-day simple moving average of $134.52 and a two-hundred day simple moving average of $126.10. Copa has a fifty-two week low of $82.54 and a fifty-two week high of $156.41.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, February 11th. The transportation company reported $4.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.44 by ($0.26). Copa had a net margin of 18.57% and a return on equity of 25.62%. The company had revenue of $962.89 million for the quarter, compared to analysts’ expectations of $959.22 million. During the same period in the previous year, the business earned $3.99 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. On average, analysts expect that Copa will post 15.48 earnings per share for the current year.

Copa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a $1.71 dividend. The ex-dividend date was Friday, February 27th. This is a positive change from Copa’s previous quarterly dividend of $1.61. This represents a $6.84 dividend on an annualized basis and a yield of 6.3%. Copa’s dividend payout ratio (DPR) is currently 42.04%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. increased its holdings in Copa by 4.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,052 shares of the transportation company’s stock worth $851,000 after acquiring an additional 268 shares in the last quarter. World Investment Advisors purchased a new position in Copa during the fourth quarter valued at approximately $222,000. Corient Private Wealth LLC lifted its holdings in Copa by 23.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,456 shares of the transportation company’s stock valued at $779,000 after purchasing an additional 1,232 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Copa by 196.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the transportation company’s stock worth $54,000 after purchasing an additional 298 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Copa in the fourth quarter worth $417,000. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Company Profile

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.