Copa (NYSE:CPA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Shares of Copa Holdings have shed more than 44% of their value so far this year due to multiple headwinds. High fuel costs have been limiting bottom-line growth for quite some time and the third quarter of 2018 was no exception. Fuel price per gallon increased 31.6% in the quarter. Copa Holdings expects effective fuel price per gallon to be approximately $2.35 in the current year, much higher than the $1.87 recorded in 2017. Fuel costs apart, expenses on the labor front are also hurting the bottom line. We are, however, impressed with the company’s efforts to reward shareholders. Moreover, strong demand for air travel is a positive and resulted in the top line expanding on a year-over-year basis in the third quarter of 2018. The company’s initiatives to modernize its fleet are also encouraging.”

A number of other research firms also recently commented on CPA. Stifel Nicolaus reiterated a “sell” rating and issued a $70.00 price objective (down previously from $100.00) on shares of Copa in a report on Friday, August 10th. Cowen cut their price objective on shares of Copa from $130.00 to $100.00 and set a “market perform” rating for the company in a report on Friday, August 10th. Imperial Capital downgraded shares of Copa from an “in-line” rating to an “underperform” rating and cut their price objective for the company from $82.00 to $68.00 in a report on Friday. ValuEngine upgraded shares of Copa from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 3rd. Finally, Evercore ISI upgraded shares of Copa from an “in-line” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $104.50.

Copa stock traded up $1.90 during midday trading on Monday, reaching $76.88. The company had a trading volume of 6,150 shares, compared to its average volume of 691,876. The firm has a market capitalization of $3.16 billion, a PE ratio of 8.86, a P/E/G ratio of 1.11 and a beta of 1.58. Copa has a 12-month low of $67.38 and a 12-month high of $141.34. The company has a current ratio of 1.04, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41.

Copa (NYSE:CPA) last released its quarterly earnings data on Wednesday, November 14th. The transportation company reported $1.36 EPS for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.06). The business had revenue of $672.40 million during the quarter, compared to analyst estimates of $677.93 million. Copa had a net margin of 12.79% and a return on equity of 15.82%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.38 EPS. On average, sell-side analysts predict that Copa will post 7.23 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in shares of Copa by 1,234.7% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,308 shares of the transportation company’s stock worth $104,000 after buying an additional 1,210 shares during the last quarter. High Pointe Capital Management LLC acquired a new stake in shares of Copa during the 3rd quarter worth approximately $217,000. Ramsey Quantitative Systems acquired a new stake in shares of Copa during the 2nd quarter worth approximately $226,000. Hartford Investment Management Co. acquired a new stake in shares of Copa during the 2nd quarter worth approximately $228,000. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of Copa during the 2nd quarter worth approximately $230,000. Institutional investors and hedge funds own 61.23% of the company’s stock.

Copa Company Profile

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.

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