Copa (CPA) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Copa (NYSE:CPA) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $148.00 price objective on the transportation company’s stock.

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. “

Several other research firms also recently issued reports on CPA. JPMorgan Chase & Co. raised shares of Copa from a neutral rating to an overweight rating and set a $155.00 price objective on the stock in a report on Tuesday, November 21st. Santander raised shares of Copa from an underperform rating to a hold rating in a report on Monday, December 4th. Cowen reissued a hold rating and issued a $137.00 price target on shares of Copa in a research note on Tuesday. Bank of America decreased their price target on shares of Copa from $167.00 to $154.00 and set a buy rating on the stock in a research note on Tuesday, September 26th. Finally, UBS Group raised shares of Copa from a neutral rating to a buy rating in a research note on Thursday, November 9th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Copa has a consensus rating of Hold and an average target price of $135.86.

Copa (NYSE CPA) traded up $5.69 on Tuesday, reaching $137.71. 370,600 shares of the company’s stock traded hands, compared to its average volume of 267,300. The company has a current ratio of 1.05, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $5,800.00, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 2.05 and a beta of 1.94. Copa has a fifty-two week low of $92.57 and a fifty-two week high of $138.72.

Copa (NYSE:CPA) last posted its quarterly earnings data on Wednesday, November 8th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.06. The business had revenue of $657.17 million for the quarter, compared to the consensus estimate of $644.36 million. Copa had a net margin of 14.88% and a return on equity of 16.81%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $1.30 earnings per share. sell-side analysts expect that Copa will post 8.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were paid a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $3.00 dividend on an annualized basis and a yield of 2.18%. Copa’s dividend payout ratio is currently 35.46%.

Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of Copa during the 3rd quarter worth approximately $498,000. Jennison Associates LLC acquired a new position in Copa in the 3rd quarter valued at $1,708,000. Capital Growth Management LP acquired a new position in Copa in the 2nd quarter valued at $72,435,000. 361 Capital LLC increased its stake in Copa by 7.1% in the 2nd quarter. 361 Capital LLC now owns 33,986 shares of the transportation company’s stock valued at $3,976,000 after buying an additional 2,259 shares during the period. Finally, Clinton Group Inc. grew its stake in shares of Copa by 141.0% during the 2nd quarter. Clinton Group Inc. now owns 26,462 shares of the transportation company’s stock worth $3,096,000 after purchasing an additional 15,483 shares during the period. Institutional investors and hedge funds own 61.40% of the company’s stock.

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About Copa

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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