Raymond James & Associates lifted its holdings in Copa Holdings, S.A. (NYSE:CPA) by 46.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,406 shares of the transportation company’s stock after acquiring an additional 3,593 shares during the period. Raymond James & Associates’ holdings in Copa were worth $1,079,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Cerebellum GP LLC grew its stake in shares of Copa by 87.6% in the second quarter. Cerebellum GP LLC now owns 1,769 shares of the transportation company’s stock valued at $167,000 after acquiring an additional 826 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in shares of Copa in the second quarter valued at about $226,000. Hartford Investment Management Co. acquired a new position in shares of Copa in the second quarter valued at about $228,000. 180 Wealth Advisors LLC acquired a new position in shares of Copa in the second quarter valued at about $230,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Copa during the second quarter worth about $252,000. Institutional investors and hedge funds own 64.55% of the company’s stock.
Shares of CPA traded down $0.65 during mid-day trading on Friday, reaching $79.25. The company had a trading volume of 577,787 shares, compared to its average volume of 497,835. Copa Holdings, S.A. has a 1-year low of $67.38 and a 1-year 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. The company has a market cap of $3.38 billion, a P/E ratio of 9.15, a PEG ratio of 1.16 and a beta of 1.58.
Copa (NYSE:CPA) last posted its quarterly earnings results on Wednesday, August 8th. The transportation company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.10). Copa had a net margin of 14.58% and a return on equity of 18.08%. The company had revenue of $634.10 million during the quarter, compared to analyst estimates of $659.06 million. During the same quarter in the previous year, the business posted $1.48 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts forecast that Copa Holdings, S.A. will post 7.41 EPS for the current year.
A number of equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Copa from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Raymond James downgraded shares of Copa from an “outperform” rating to a “market perform” rating in a research note on Monday, October 22nd. Imperial Capital assumed coverage on shares of Copa in a research note on Friday, October 19th. They set an “in-line” rating and a $86.00 price objective on the stock. UBS Group downgraded shares of Copa from a “buy” rating to a “neutral” rating in a research note on Friday, September 28th. Finally, Cowen reduced their price objective on shares of Copa from $100.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, September 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $106.80.
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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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