Copa (NYSE:CPA) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Copa Holdings, S.A. (NYSE:CPA) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $114.92, but opened at $126.89. Copa shares last traded at $129.8250, with a volume of 237,121 shares traded.

The transportation company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.73. Copa had a return on equity of 25.62% and a net margin of 18.57%.The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business posted $4.28 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group lowered their target price on shares of Copa from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. The Goldman Sachs Group raised shares of Copa from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $151.00 to $138.00 in a report on Monday, April 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Copa in a research report on Wednesday, January 21st. Citigroup dropped their price objective on Copa from $155.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Finally, Bank of America reduced their target price on Copa from $212.00 to $171.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $165.00.

Hedge Funds Weigh In On Copa

Institutional investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC bought a new stake in shares of Copa during the 4th quarter worth $27,000. Empowered Funds LLC bought a new position in Copa in the fourth quarter valued at $29,000. CWM LLC raised its position in Copa by 408.2% during the third quarter. CWM LLC now owns 249 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. US Bancorp DE raised its position in Copa by 90.2% during the third quarter. US Bancorp DE now owns 253 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in Copa by 284.2% during the first quarter. SJS Investment Consulting Inc. now owns 292 shares of the transportation company’s stock worth $33,000 after purchasing an additional 216 shares during the last quarter. Institutional investors own 70.09% of the company’s stock.

Copa Price Performance

The business has a fifty day moving average price of $117.66 and a 200-day moving average price of $125.32. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $5.32 billion, a PE ratio of 7.93, a PEG ratio of 1.00 and a beta of 0.94.

About Copa

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.