UBS Group Cuts Copa (NYSE:CPA) Price Target to $185.00

Copa (NYSE:CPA) had its target price decreased by UBS Group from $195.00 to $185.00 in a report released on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the transportation company’s stock.

Several other research firms have also recently issued reports on CPA. Evercore reiterated an “outperform” rating and set a $175.00 target price on shares of Copa in a research report on Friday, May 15th. The Goldman Sachs Group boosted their price target on Copa from $138.00 to $156.00 and gave the stock a “buy” rating in a report on Friday, May 15th. JPMorgan Chase & Co. increased their price objective on shares of Copa from $165.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Wall Street Zen upgraded shares of Copa from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Jefferies Financial Group started coverage on shares of Copa in a report on Thursday, June 18th. They issued a “buy” rating and a $185.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $173.20.

Copa Trading Up 0.1%

Shares of Copa stock opened at $135.94 on Tuesday. Copa has a fifty-two week low of $107.44 and a fifty-two week high of $160.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.06 and a current ratio of 1.16. The company has a market capitalization of $5.59 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a fifty day moving average of $144.46 and a 200 day moving average of $134.11.

Copa (NYSE:CPA) last posted its quarterly earnings results on Saturday, August 8th. The transportation company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.21). Copa had a net margin of 15.71% and a return on equity of 22.60%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business earned $3.61 earnings per share. Copa’s revenue was up 25.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Copa will post 16.28 earnings per share for the current fiscal year.

Copa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, August 31st. Copa’s payout ratio is 44.97%.

Hedge Funds Weigh In On Copa

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Capital Management LLC bought a new stake in Copa in the 2nd quarter worth approximately $88,871,000. Globeflex Capital L P bought a new position in shares of Copa during the 2nd quarter valued at approximately $13,579,000. Elevation Wealth Partners LLC boosted its position in shares of Copa by 240.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 167 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 118 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Copa in the second quarter valued at $1,036,000. Finally, Quad Cities Investment Group LLC grew its holdings in shares of Copa by 1.8% in the second quarter. Quad Cities Investment Group LLC now owns 8,502 shares of the transportation company’s stock valued at $1,323,000 after purchasing an additional 152 shares in the last quarter. 70.09% of the stock is owned by institutional investors.

About Copa

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.