Copa Holdings SA (CPA) Upgraded to “Buy” at Goldman Sachs Group Inc.
Copa Holdings SA (NYSE:CPA) was upgraded by research analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $100.00 target price on the stock. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 12.37% from the company’s previous close.
A number of other equities analysts also recently issued reports on CPA. HSBC downgraded Copa Holdings SA from a “buy” rating to a “hold” rating and increased their target price for the stock from $66.00 to $84.00 in a research note on Friday, August 5th. Cowen and Company restated a “market perform” rating and issued a $90.00 price target (up previously from $72.00) on shares of Copa Holdings SA in a report on Thursday, November 10th. Citigroup Inc. upgraded Copa Holdings SA from a “hold” rating to a “buy” rating and upped their price target for the stock from $90.00 to $105.00 in a report on Wednesday, November 9th. Wolfe Research upgraded Copa Holdings SA from an “underperform” rating to a “market perform” rating in a report on Thursday, November 10th. Finally, Deutsche Bank AG upgraded Copa Holdings SA from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Wednesday, November 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $89.42.
Shares of Copa Holdings SA (NYSE:CPA) opened at 88.99 on Wednesday. Copa Holdings SA has a 52-week low of $42.61 and a 52-week high of $97.00. The stock’s market cap is $3.77 billion. The firm has a 50-day moving average price of $89.29 and a 200-day moving average price of $71.83.
Copa Holdings SA (NYSE:CPA) last issued its earnings results on Tuesday, November 8th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The business earned $569 million during the quarter, compared to the consensus estimate of $548.76 million. Copa Holdings SA had a return on equity of 10.56% and a net margin of 11.42%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. On average, analysts anticipate that Copa Holdings SA will post $5.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, November 28th. Copa Holdings SA’s dividend payout ratio is presently 35.05%.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Group LTD raised its position in shares of Copa Holdings SA by 100.2% in the first quarter. BlackRock Group LTD now owns 23,176 shares of the company’s stock worth $1,570,000 after buying an additional 11,600 shares in the last quarter. Riverhead Capital Management LLC acquired a new position in shares of Copa Holdings SA during the first quarter worth $934,000. A.R.T. Advisors LLC acquired a new position in shares of Copa Holdings SA during the first quarter worth $1,518,000. Barclays PLC raised its position in shares of Copa Holdings SA by 24.2% in the first quarter. Barclays PLC now owns 13,330 shares of the company’s stock worth $893,000 after buying an additional 2,596 shares in the last quarter. Finally, Babson Capital Management LLC acquired a new position in shares of Copa Holdings SA during the first quarter worth $522,000. 74.64% of the stock is currently owned by institutional investors.
About Copa Holdings SA
Copa Holdings, SA is a provider of airline passenger and cargo service through its principal operating subsidiaries, Compania Panamena de Aviacion, S. A. (Copa Airlines) and AeroRepublica, S. A. (Copa Colombia). The Company operates through air transportation segment. Copa Airlines operates from its position located in the Republic of Panama.
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