Bank of America Increases Copa (NYSE:CPA) Price Target to $134.00

Copa (NYSE:CPA) had its target price increased by Bank of America from $117.00 to $134.00 in a report issued on Thursday morning, Stock Target Advisor reports. They currently have a buy rating on the transportation company’s stock.

Several other equities analysts have also issued reports on CPA. Evercore ISI reissued a buy rating on shares of Copa in a research note on Sunday, November 17th. Buckingham Research upped their target price on Copa from $125.00 to $131.00 and gave the stock a buy rating in a research report on Thursday. They noted that the move was a valuation call. Deutsche Bank upped their target price on Copa from $103.00 to $130.00 and gave the stock a buy rating in a research report on Monday, November 18th. They noted that the move was a valuation call. Finally, ValuEngine raised Copa from a sell rating to a hold rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $117.00.

CPA traded up $0.73 during trading on Thursday, hitting $110.01. The company’s stock had a trading volume of 448,175 shares, compared to its average volume of 319,432. Copa has a twelve month low of $77.57 and a twelve month high of $116.88. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $103.81 and its 200-day moving average price is $102.99. The firm has a market capitalization of $4.61 billion, a P/E ratio of 52.64, a PEG ratio of 0.71 and a beta of 1.37.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, February 12th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.19. Copa had a return on equity of 15.24% and a net margin of 3.29%. The firm had revenue of $681.90 million for the quarter, compared to analyst estimates of $675.10 million. During the same period in the previous year, the firm earned $1.04 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts expect that Copa will post 7.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 28th will be given a $0.80 dividend. This is a positive change from Copa’s previous quarterly dividend of $0.65. This represents a $3.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Thursday, February 27th. Copa’s dividend payout ratio is presently 39.88%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPA. Renaissance Technologies LLC raised its position in Copa by 23.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,554,761 shares of the transportation company’s stock valued at $168,039,000 after buying an additional 293,675 shares during the last quarter. FMR LLC raised its position in Copa by 30.5% in the 4th quarter. FMR LLC now owns 1,012,727 shares of the transportation company’s stock valued at $109,456,000 after buying an additional 236,833 shares during the last quarter. Millennium Management LLC raised its position in Copa by 453.2% in the 3rd quarter. Millennium Management LLC now owns 254,845 shares of the transportation company’s stock valued at $25,165,000 after buying an additional 208,781 shares during the last quarter. Clark Capital Management Group Inc. raised its position in Copa by 38.4% in the 4th quarter. Clark Capital Management Group Inc. now owns 286,023 shares of the transportation company’s stock valued at $30,913,000 after buying an additional 79,318 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Copa by 10.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 681,324 shares of the transportation company’s stock valued at $73,638,000 after buying an additional 61,678 shares during the last quarter. 70.09% of the stock is owned by institutional investors and hedge funds.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 81 destinations in 33 countries in North, Central, and South America, as well as the Caribbean. As of April 24, 2019, it operated a fleet of 105 aircraft comprising 6 Boeing 737 MAX9s, 82 Boeing 737NGs, and 17 Embraer-190s aircraft.

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Analyst Recommendations for Copa (NYSE:CPA)

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