HighTower Advisors LLC Buys New Shares in Copa Holdings, S.A. $CPA

HighTower Advisors LLC bought a new stake in shares of Copa Holdings, S.A. (NYSE:CPA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 4,576 shares of the transportation company’s stock, valued at approximately $423,000.

Other institutional investors also recently modified their holdings of the company. Northern Trust Corp lifted its position in shares of Copa by 19.7% during the 4th quarter. Northern Trust Corp now owns 20,850 shares of the transportation company’s stock valued at $1,832,000 after acquiring an additional 3,433 shares during the period. Range Financial Group LLC lifted its position in shares of Copa by 34.8% during the 1st quarter. Range Financial Group LLC now owns 16,652 shares of the transportation company’s stock valued at $1,540,000 after acquiring an additional 4,297 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Copa by 32.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,647 shares of the transportation company’s stock valued at $1,817,000 after acquiring an additional 4,767 shares during the period. Trek Financial LLC acquired a new position in shares of Copa during the 1st quarter valued at $5,216,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Copa during the 4th quarter valued at $244,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CPA shares. Morgan Stanley reiterated an “overweight” rating and set a $145.00 target price (up previously from $125.00) on shares of Copa in a research report on Monday, August 11th. Cowen restated a “buy” rating on shares of Copa in a report on Friday, August 8th. Wall Street Zen upgraded shares of Copa from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Citigroup lowered their price objective on shares of Copa from $159.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Finally, TD Cowen upped their price objective on shares of Copa from $144.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $154.40.

Copa Stock Performance

Shares of CPA stock opened at $117.32 on Monday. The firm has a 50-day moving average of $112.02 and a 200-day moving average of $101.95. The company has a market cap of $4.83 billion, a P/E ratio of 7.63, a P/E/G ratio of 1.02 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.93. Copa Holdings, S.A. has a one year low of $82.54 and a one year high of $121.63.

Copa (NYSE:CPA) last announced its earnings results on Wednesday, August 6th. The transportation company reported $3.61 EPS for the quarter, beating the consensus estimate of $3.25 by $0.36. The company had revenue of $842.60 million during the quarter, compared to the consensus estimate of $833.12 million. Copa had a net margin of 18.36% and a return on equity of 26.22%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.88 earnings per share. Equities research analysts forecast that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.61 per share. The ex-dividend date is Friday, August 29th. This represents a $6.44 annualized dividend and a yield of 5.5%. Copa’s dividend payout ratio is presently 41.87%.

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.