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

Copa Holdings, S.A. (NYSE:CPA) shares gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 changing hands.

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

Analyst Upgrades and Downgrades

CPA has been the subject of several recent research reports. Wall Street Zen downgraded shares of Copa from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. The Goldman Sachs Group raised Copa from a “neutral” rating to a “buy” rating and lowered their target price for the company from $151.00 to $138.00 in a research note on Monday, April 13th. Evercore restated an “outperform” rating and set a $185.00 target price on shares of Copa in a report on Friday, February 13th. Citigroup reduced their price target on Copa from $155.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $190.00 price target on shares of Copa in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $165.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Sei Investments Co. raised its position in Copa by 5.1% during the 1st quarter. Sei Investments Co. now owns 351,310 shares of the transportation company’s stock valued at $39,912,000 after purchasing an additional 17,113 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Copa by 5.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,181 shares of the transportation company’s stock worth $361,000 after buying an additional 151 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Copa by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,963 shares of the transportation company’s stock worth $158,691,000 after buying an additional 52,243 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Copa by 19.6% during the first quarter. Bank of New York Mellon Corp now owns 3,479 shares of the transportation company’s stock valued at $395,000 after buying an additional 571 shares during the period. Finally, Journey Advisory Group LLC purchased a new position in shares of Copa during the first quarter valued at approximately $3,416,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Stock Performance

The business has a fifty day moving average of $117.66 and a 200 day moving average of $125.32. The company has a market cap of $5.32 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.00 and a beta of 0.94. 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 Company Profile

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.