Hexagon Capital Partners LLC Trims Stock Position in Copa Holdings, S.A. (NYSE:CPA)

by · The Markets Daily

Hexagon Capital Partners LLC lessened its holdings in Copa Holdings, S.A. (NYSE:CPA – Free Report) by 14.3% during the 3rd quarter, Holdings Channel reports. The firm owned 764 shares of the transportation company’s stock after selling 128 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Copa were worth $72,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Scarborough Advisors LLC acquired a new position in shares of Copa in the fourth quarter valued at approximately $47,000. Rhumbline Advisers raised its position in shares of Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after buying an additional 1,380 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Copa in the fourth quarter valued at approximately $202,000. Kingsview Wealth Management LLC acquired a new position in shares of Copa in the first quarter valued at approximately $215,000. Finally, Mackenzie Financial Corp raised its position in shares of Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after buying an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CPA has been the subject of a number of analyst reports. TD Cowen cut their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. StockNews.com raised shares of Copa from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Evercore ISI dropped their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $148.83.

View Our Latest Analysis on CPA

Copa Price Performance

Copa stock opened at $94.43 on Friday. Copa Holdings, S.A. has a 52-week low of $78.12 and a 52-week high of $114.00. The firm has a fifty day moving average of $90.08 and a 200-day moving average of $95.31. The firm has a market capitalization of $3.72 billion, a P/E ratio of 6.79, a PEG ratio of 0.57 and a beta of 1.49. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.11. Copa had a net margin of 19.31% and a return on equity of 30.81%. The company had revenue of $819.40 million during the quarter, compared to analyst estimates of $838.13 million. During the same quarter in the prior year, the business earned $3.92 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts predict that Copa Holdings, S.A. will post 14.53 EPS for the current year.

Copa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend was Friday, August 30th. Copa’s payout ratio is currently 46.33%.

Copa Company Profile

(Free Report)

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.

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