Copa (NYSE:CPA) was downgraded by equities research analysts at Imperial Capital from an “in-line” rating to an “underperform” rating in a note issued to investors on Friday, November 16th, MarketBeat.com reports. They currently have a $68.00 price objective on the transportation company’s stock, down from their prior price objective of $82.00. Imperial Capital’s target price would suggest a potential downside of 14.15% from the stock’s previous close. Imperial Capital also issued estimates for Copa’s Q1 2019 earnings at $2.18 EPS and Q3 2019 earnings at $1.65 EPS.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Copa from a “hold” rating to a “strong sell” rating in a report on Monday, July 23rd. Buckingham Research upgraded shares of Copa from a “neutral” rating to a “buy” rating and cut their price target for the stock from $103.00 to $95.00 in a report on Wednesday, September 12th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “sell” rating and issued a $70.00 price objective (down from $100.00) on shares of Copa in a research note on Friday, August 10th. ValuEngine raised shares of Copa from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Cowen lowered their price objective on shares of Copa from $130.00 to $100.00 and set a “market perform” rating for the company in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $98.50.

CPA stock traded down $3.67 during mid-day trading on Friday, reaching $79.21. 363,497 shares of the stock traded hands, compared to its average volume of 612,155. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Copa has a one year low of $67.38 and a one year high of $141.34. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 1.32 and a beta of 1.62.

Copa (NYSE:CPA) last posted its quarterly earnings data on Wednesday, November 14th. The transportation company reported $1.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.06). Copa had a net margin of 12.79% and a return on equity of 15.71%. The firm had revenue of $672.40 million for the quarter, compared to the consensus estimate of $677.93 million. During the same quarter last year, the firm earned $2.38 EPS. The company’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that Copa will post 6.76 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in CPA. Marshall Wace LLP increased its holdings in shares of Copa by 4.5% during the third quarter. Marshall Wace LLP now owns 35,868 shares of the transportation company’s stock valued at $2,864,000 after acquiring an additional 1,533 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of Copa during the third quarter valued at about $24,102,000. Morgan Stanley increased its holdings in shares of Copa by 2.4% during the third quarter. Morgan Stanley now owns 505,069 shares of the transportation company’s stock valued at $40,323,000 after acquiring an additional 11,735 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in shares of Copa by 15.7% during the third quarter. Standard Life Aberdeen plc now owns 389,567 shares of the transportation company’s stock valued at $31,104,000 after acquiring an additional 52,959 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Copa by 76.4% during the third quarter. AQR Capital Management LLC now owns 174,630 shares of the transportation company’s stock valued at $13,942,000 after acquiring an additional 75,644 shares in the last quarter. 62.19% 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 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.

Further Reading: Asset Allocation

Analyst Recommendations for Copa (NYSE:CPA)

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