Copa (CPA) Upgraded by Bank of America to “Buy”

Bank of America upgraded shares of Copa (NYSE:CPA) from a neutral rating to a buy rating in a report published on Monday, Briefing.com Automated Import reports.

A number of other research firms have also weighed in on CPA. Cowen reissued a market perform rating and issued a $93.00 price objective (up from $85.00) on shares of Copa in a research report on Friday. ValuEngine raised shares of Copa from a sell rating to a hold rating in a research report on Thursday, May 9th. Citigroup raised shares of Copa from a neutral rating to a buy rating in a research report on Thursday, May 9th. Zacks Investment Research lowered shares of Copa from a buy rating to a hold rating in a research report on Wednesday, March 13th. Finally, Imperial Capital reissued an underperform rating and issued a $77.00 price objective (up from $68.00) on shares of Copa in a research report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $98.75.

Shares of NYSE:CPA opened at $91.56 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Copa has a 12 month low of $67.38 and a 12 month high of $115.97. The stock has a market capitalization of $3.98 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.44.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, May 8th. The transportation company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.47. Copa had a net margin of 1.56% and a return on equity of 11.49%. The firm had revenue of $672.17 million during the quarter, compared to the consensus estimate of $670.26 million. During the same quarter last year, the firm earned $3.22 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that Copa will post 6.7 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, May 30th. Copa’s dividend payout ratio (DPR) is presently 39.88%.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Copa by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 555,234 shares of the transportation company’s stock worth $43,700,000 after acquiring an additional 20,289 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Copa by 15.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,597 shares of the transportation company’s stock worth $284,000 after acquiring an additional 481 shares during the period. Baillie Gifford & Co. increased its position in shares of Copa by 1.1% during the fourth quarter. Baillie Gifford & Co. now owns 3,198,998 shares of the transportation company’s stock worth $251,793,000 after acquiring an additional 33,479 shares during the period. California Public Employees Retirement System increased its position in shares of Copa by 12.2% during the fourth quarter. California Public Employees Retirement System now owns 61,273 shares of the transportation company’s stock worth $4,823,000 after acquiring an additional 6,666 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Copa by 17,209.7% during the fourth quarter. Macquarie Group Ltd. now owns 121,168 shares of the transportation company’s stock worth $9,537,000 after acquiring an additional 120,468 shares during the period. 64.21% of the stock is currently owned by institutional investors and hedge funds.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 75 destinations in 31 countries in North, Central, and South America, as well as the Caribbean. As of April 12, 2018, it operated a fleet of 101 aircraft comprising 81 Boeing 737NG aircraft and 20 EMBRAER-190s aircraft.

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Analyst Recommendations for Copa (NYSE:CPA)

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