Citigroup Cuts Copa (NYSE:CPA) Price Target to $140.00

Copa (NYSE:CPA) had its price target cut by Citigroup from $155.00 to $140.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

CPA has been the topic of a number of other reports. The Goldman Sachs Group lowered Copa from a “buy” rating to a “neutral” rating and increased their price target for the stock from $150.00 to $151.00 in a research report on Thursday, February 12th. Wall Street Zen downgraded Copa from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Barclays boosted their price objective on Copa from $150.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Morgan Stanley restated an “overweight” rating and issued a $190.00 target price on shares of Copa in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. cut their price target on Copa from $170.00 to $165.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.44.

Copa Trading Up 0.4%

Shares of Copa stock opened at $110.73 on Tuesday. Copa has a 12-month low of $82.54 and a 12-month high of $156.41. The stock has a market capitalization of $4.56 billion, a P/E ratio of 6.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89. The company has a 50-day simple moving average of $134.96 and a 200 day simple moving average of $126.16. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.65.

Copa (NYSE:CPA) last issued its quarterly earnings data on Wednesday, February 11th. The transportation company reported $4.18 earnings per share for the quarter, missing the consensus estimate of $4.44 by ($0.26). Copa had a return on equity of 25.62% and a net margin of 18.57%.The firm had revenue of $962.89 million for the quarter, compared to the consensus estimate of $959.22 million. During the same period in the prior year, the company posted $3.99 earnings per share. Copa’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts expect that Copa will post 15.48 earnings per share for the current fiscal year.

Copa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $1.71 dividend. This is an increase from Copa’s previous quarterly dividend of $1.61. This represents a $6.84 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Friday, February 27th. Copa’s dividend payout ratio (DPR) is 42.04%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in shares of Copa by 4.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,052 shares of the transportation company’s stock valued at $851,000 after buying an additional 268 shares during the period. World Investment Advisors bought a new stake in shares of Copa during the fourth quarter worth $222,000. Corient Private Wealth LLC lifted its stake in shares of Copa by 23.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,456 shares of the transportation company’s stock valued at $779,000 after acquiring an additional 1,232 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Copa by 196.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the transportation company’s stock valued at $54,000 after acquiring an additional 298 shares during the period. Finally, Virtu Financial LLC bought a new position in Copa in the fourth quarter valued at about $417,000. Institutional investors and hedge funds own 70.09% of the company’s stock.

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.