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

Copa Holdings, S.A. (NYSE:CPA) shares 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 changing hands.

Wall Street Analysts Forecast Growth

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

Copa Stock Performance

The firm’s 50-day simple moving average is $131.70 and its 200 day simple moving average is $133.19.

Copa (NYSE:CPA) last posted its quarterly earnings results on Saturday, August 8th. The transportation company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.21). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.61 earnings per share. As a group, sell-side analysts predict that Copa Holdings, S.A. will post 14.78 earnings per share for the current fiscal year.

Copa Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC lifted its position in shares of Copa by 59.3% during the 3rd quarter. Elevation Wealth Partners LLC now owns 266 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 99 shares during the period. Triumph Capital Management boosted its stake in shares of Copa by 26.7% during the 2nd quarter. Triumph Capital Management now owns 570 shares of the transportation company’s stock worth $89,000 after acquiring an additional 120 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Copa by 15.4% during the 3rd quarter. IFP Advisors Inc now owns 959 shares of the transportation company’s stock worth $126,000 after acquiring an additional 128 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Copa by 5.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,181 shares of the transportation company’s stock worth $361,000 after acquiring an additional 151 shares in the last quarter. Finally, Quad Cities Investment Group LLC boosted its stake in shares of Copa by 1.8% during the 2nd quarter. Quad Cities Investment Group LLC now owns 8,502 shares of the transportation company’s stock worth $1,323,000 after acquiring an additional 152 shares in the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Company Profile

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.