Morgan Stanley Reiterates Overweight Rating for Copa (NYSE:CPA)

Copa (NYSE:CPA)‘s stock had its “overweight” rating restated by investment analysts at Morgan Stanley in a research note issued to investors on Monday, MarketBeat.com reports. They currently have a $145.00 price target on the transportation company’s stock, up from their previous price target of $125.00. Morgan Stanley’s price objective would indicate a potential upside of 20.24% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. TD Cowen raised their target price on shares of Copa from $144.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Wall Street Zen raised shares of Copa from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Copa in a research report on Friday. Finally, Cowen reaffirmed a “buy” rating on shares of Copa in a research report on Friday. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $159.40.

Copa Price Performance

CPA opened at $120.59 on Monday. The company’s 50 day simple moving average is $109.07 and its 200 day simple moving average is $99.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.04. Copa has a 1 year low of $82.54 and a 1 year high of $121.63. The stock has a market capitalization of $4.96 billion, a PE ratio of 7.84, a P/E/G ratio of 1.02 and a beta of 1.39.

Copa (NYSE:CPA) last released its earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.36. Copa had a net margin of 18.36% and a return on equity of 26.22%. The business had revenue of $842.60 million for the quarter, compared to analysts’ expectations of $833.12 million. During the same period last year, the company earned $2.88 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Copa will post 15.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new stake in shares of Copa during the second quarter valued at approximately $25,000. Montag A & Associates Inc. purchased a new stake in shares of Copa during the first quarter valued at approximately $30,000. Bayforest Capital Ltd purchased a new stake in shares of Copa during the first quarter valued at approximately $36,000. US Bancorp DE raised its stake in shares of Copa by 378.1% during the first quarter. US Bancorp DE now owns 502 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 397 shares during the period. Finally, Quarry LP purchased a new stake in shares of Copa during the first quarter valued at approximately $50,000. 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 approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.