Copa (NYSE:CPA) Stock Price Breaks Above 50-Day Moving Average – Here’s What Happened

Copa Holdings, S.A. (NYSE:CPA)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $131.70 and traded as high as $134.05. Copa shares last traded at $132.7630, with a volume of 282,223 shares trading hands.

Analyst Ratings Changes

CPA has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Copa in a report on Tuesday, August 11th. UBS Group lowered their price objective on Copa from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Raymond James Financial lowered their price objective on Copa from $195.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Monday, August 24th. Finally, Wall Street Zen downgraded Copa from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $172.20.

Copa Stock Performance

The firm has a 50-day simple moving average of $131.70 and a 200 day simple moving average of $133.19.

Copa (NYSE:CPA) last posted its quarterly earnings data on Saturday, August 8th. The transportation company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.21). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.61 earnings per share. Equities analysts expect that Copa Holdings, S.A. will post 14.78 EPS for the current year.

Copa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Monday, August 31st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CPA. WINTON GROUP Ltd acquired a new position in shares of Copa in the second quarter valued at approximately $1,509,000. Empowered Funds LLC raised its stake in shares of Copa by 8,453.5% during the first quarter. Empowered Funds LLC now owns 20,785 shares of the transportation company’s stock worth $2,361,000 after purchasing an additional 20,542 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Copa by 94.7% during the first quarter. Quantinno Capital Management LP now owns 143,618 shares of the transportation company’s stock worth $16,316,000 after purchasing an additional 69,838 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Copa by 45.5% during the first quarter. Bank of America Corp DE now owns 181,594 shares of the transportation company’s stock worth $20,631,000 after purchasing an additional 56,764 shares during the last quarter. Finally, Corient Private Wealth LP raised its stake in shares of Copa by 243.2% during the second quarter. Corient Private Wealth LP now owns 31,232 shares of the transportation company’s stock worth $4,859,000 after purchasing an additional 22,132 shares during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

About Copa

Copa Holdings, SA is a Panama-based airline holding company whose principal subsidiary is Compañía Panameña de Aviación, SA, known as Copa Airlines. The company provides scheduled passenger air transportation, with Tocumen International Airport in Panama City serving as its primary hub.

Copa Airlines operates a network connecting Panama with destinations across North, Central and South America and the Caribbean. Its services support both business and leisure travel, with connecting traffic routed through Panama’s geographic position as a regional aviation hub.

Copa Holdings also has an interest in Wingo, a low-cost airline serving Colombia and other markets in the Americas.