Copa Holdings, S.A. CPA performed well in the past year and has the potential to sustain the momentum in the future. If you have not taken advantage of its share price appreciation yet, it’s time to do so.
Let’s take a look at the factors that make the stock a strong investment pick at the moment.
An Outperformer: A glimpse at the company’s price trend reveals that its shares have gained 15.1% in the past three months.
Image Source: Zacks Investment Research
Solid Zacks Rank: CPA presently carries a Zacks Rank #2 (Buy). Our research shows that stocks with a Zacks Rank #1 (Strong Buy) or 2 offer the best investment opportunities. Thus, the company is a compelling investment proposition at the moment.
Northward Estimate Revisions: The positivity surrounding the stock is evident from the fact that the Zacks Consensus Estimate for fourth-quarter 2024 earnings has improved 1.5% over the past 60 days. The Zacks Consensus Estimate for 2024 earnings has moved north 4.1% in the past 60 days.
Positive Earnings Surprise History: CPA has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 16.03%.
Driving Factors: Upbeat air travel demand has been aiding Copa Holdings' revenues. We are encouraged by Copa Holdings' initiatives to modernize its fleet. Apart from adding planes, this carrier is replacing the outdated models as part of its fleet modernization efforts to lower carbon dioxide emissions.
CPA ended the second quarter of 2024 with a consolidated fleet of 109 aircraft, which comprises 67 Boeing 737-800s, 32 Boeing 737 MAX 9s, nine Boeing 737-700s and one Boeing 737-800 freighter. Copa Holdings expects to end 2024 with 112 aircraft.
Other Stocks to Consider
Some other top-ranked stocks from the Zacks Transportation sector are C.H. Robinson Worldwide (CHRW) and Wabtec Corporation WAB. Each stock presently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
CHRW has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 10.29%.
CHRW has an expected earnings growth rate of 32.42% for 2024. The Zacks Consensus Estimate for CHRW 2024 earnings has been revised 7.3% upward over the past 90 days. Shares of CHRW have gained 26.2% so far this year.
WAB has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 9.46%.
The Zacks Consensus Estimate for WAB’s 2024 earnings has been revised 2.5% upward over the past 90 days. WAB has an expected earnings growth rate of 28.55% for 2024. Shares of WAB have gained 58.5% so far this year.
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C.H. Robinson Worldwide, Inc. (CHRW) : Free Stock Analysis Report
Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
Westinghouse Air Brake Technologies Corporation (WAB) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
